I feel it is a privilege when I am asked to represent a buyer or a seller in a real estate transaction. I feel honored because this is normally the largest investment a buyer or seller will make in his or her lifetime. I can answer all questions regarding the purchase or sale of this investment but I have to be careful not to give legal or tax advice.
What I can do is to advise clients of the importance of seeking sound legal advice when it comes to estate planning and the protection of that estate with the proper use of a living will and trust.
This is normally a topic that for some reason most people (especially men) avoid. In my years in real estate I have seen more estates affected because little or no estate planning was done. This saddens me to see the hard work of people be tied up in court and end up with the federal and or state government because people failed to use a living will, trust, and general will.
Living wills and trusts have become easier than ever because of the internet. One of the most trusted sites for these legal documents is legalzoom This site was created by attorneys and it a good starting point.
A Realtor once wrote a blog that was very sad. It turns out one of her clients had created a trust and then later re-financed their personal home. They failed to place their home back in the trust after the re-finance even though they intended to do so. The clients then passed away and their heirs had a very difficult time dealing with not only the loss of loved ones but had to go through a pile of probate paperwork that could have easily been avoided if the home would have been placed back in the trust as intended.
Take the time to get good sound legal advice to protect your estate and all that you have worked so hard for.