If you own out-of-state real estate in your Family Trust, the benefits are even greater.
When you pass away owning real estate in multiple state, probates are required in each state. The accumulated costs can be massive.
But if, instead, you created a Family Trust or Living Trust and titled all of the properties to the trust, all probates are avoided. Including the ones for your out-of-state properties.
So, for clients who own out-of-state real estate, we strongly encourage the consideration of a Family Trust to cut down on probate costs.