Legal Question in Wills and Trusts in New York
owns home in NY - not in trust. Has trust in FL.
My mom had a trust made up when she moved to FL. She still owns a home in NY, however, and that house in not in a trust. She wants to get that home into a trust. Will that home go into the FL trust or does a new trust need to be written up? Does the attorney have to be a NY licensed attorney? Can this be done by forms online?
1 Answer from Attorneys
Re: owns home in NY - not in trust. Has trust in FL.
She needs a deed from herself (and any other co-owner, if there is one)to her trust. She should consult with an attorney about the wisdom of reserving a life estate to herself, especially if the trust is irrevocable. If she has her existing deed, she can copy the format from the old deed, and obtain the necessary transfer tax documents from New York State Department of Taxation. However, rather than making a mistake by trying to save a few bucks, she is better off having an attorney prepare the deed for her.
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