[quote=HLS]Refinancing doesn’t solve the probate issue.
As SK said, get the Living Trust asap AND don’t forget to fund the trust (i.e. transfer title of assets into the trust)
make sure it’s done correctly.
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Great addition, I should have included that part. DO NOT FORGET TO FUND THE TRUST!.
I’ve seen trusts created a dozen times, the trustor dies and nothing was ever put into the trust. It makes the trust worthless. Put all real estate into trust. Put bank accounts and investment accounts into trust. If there are significant other assets of any kind (including valuable personal property) put them into the trust and make sure there is a paper trial recording which assets are being put into the trust, and each transfer must be signed by the grantor of the trust.
And while that’s being done, a new will should say that anything that isn’t in the trust, goes to the trust upon death, unless previously dealt with. (IRA’s and other retirement accounts should NEVER go into the trust.)
