Legal Question in Wills and Trusts in Florida

Re: Recording a property as part of a living trust

Although a quitclaim deed would transfer title, you are better off using a warranty deed to be sure that the trust gets the same protection of the warranties as the individual (the grantor) had and the property can be insured the same way.

Re: Recording a property as part of a living trust

NOTE: This communication is not intended as and should not be interpreted as legal advice. Rather, it is intended solely as a general discussion of legal principles. You should not rely on or take action based on this communication without first presenting ALL relevant details to a competent attorney in your jurisdiction and then receiving the attorney's individualized advice for you. By reading the "Response" to your question or comment, you agree that the opinion expressed is not intended to, nor does it, create any attorney-client relationship, nor does it constitute legal advice to any person reviewing such information, nor will it be considered an attorney-client privileged communication. If you do not agree, then stop right here, and do not read any further.

The quick and easy answer to your question is that a Quit Claim Deed is generally the instrument given by a related Grantor in a similar situation.

This may not be the best solution to what your ultimate goal is, however. If you are attempting to save on taxes in the event of mom's demise, placing the property in a trust is often not the way this is handled.

Another method would be to have your mother sign a Quit Claim Deed to herself for life with a remainder to you. This is far less complicated and threatening to many seniors. Your mother will continue to own the property during her life and you will then own the property upon her demise. There is a drawback, however. By transferring the property with this "quick and easy" method, you are losing the advantage of a stepped up basis in the value of the property upon your mother's demise.

The third and often preferrable choice is for your mother to simply change her will and have this property bequeathed to you upon her demise. You will then own the property and your basis (value for tax purposes) will be the value on the date of her death.

I strongly suggest that you consult with a Florida real estate attorney to review your goals. The attorney can then offer suggestions how to best obtain the desired results.

Scott R. Jay, Esq., 305-249-8000

Re: Recording a property as part of a living trust

look at the very end of scott jays answer and do it, now, immediatly, yesterday --- stop trying to get free advice that will screw up you mother estate, have possible adverse consecquences, may not be what your mother who ownes the propty and is the testator/settlor of the trust and should being personally dealing wiht the attorney and not you -- deal with a fl. attorney who is an expert in estate planning/real estate ----- or just ask the attorney who prepared the trust and if he has not met with your mother i pitty you if you have siblings, oh yes you prepared it, wow -- its called law suit --- get my point and it is sharp for a reason