Legal Question in Wills and Trusts in Florida
Living Trust
I was married 4 years ago and I own a home that does not have my wife's name on the warranty deed. Did a living trust and a new warranty deed to make her and I grantors/trustees to the family trust. Tried to record trust and deed. State requires revenue tax of 70 cents per 100 on appraised value of home to add my wifes name. Is there any other way to insure wife gets home upon my death. I have a 34 year old daughter. Does community property apply here even though not on deed. This is for real property only.
2 Answers from Attorneys
Re: Living Trust
Execution and delivery of a deed convey title. Recordation is primarily to prevent others from taking title in the meantime. Are there any minor children? Could be that you cannot devise or convey the homestead under Florida law.
Re: Living Trust
I don't understand Mr. Graves' answer either. Makes me wonder where he is coming from. But back to your question. I have never heard of a recording office in Florida requiring documentary stamps based on the appraised value, rather based on the value of any outstanding mortgage. But, anyhow, there is more than one way to skin a cat. You may, of course, leave the home to your wife in your will. It would then have to go through a probate process, but probably not the full, formal probate. There is another tactic using the living trust, which I would be happy to discuss with you. I would prefer not to discuss it through this medium, as the recording office might frown on it, although it is perfectly legal.
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