June 6th, 2025 9:19 AM by Linda Holley
How you title your home and other assets is very important AND you MUST follow through after the legal work is done; if not, it's of little use to go through the estate planning cost. If this isn't done by the book, there may be problems if there is a divorce, death of a spouse, remarrying, adopting a child, or getting an inheritance. If a person gets married when they already own a home, they often forget that the home is in the name of one spouse, not both.
Survivor trustees and survivor beneficiaries are important to understand. Maybe it's time to look over your documents to be sure your assets are titled correctly. If you're married, perhaps you want your assets titled in both names. If you become divorced be sure to change how the assets are titled and perhaps beneficiaries on your 401k and life insurance policies. Living trust? Check that all of your assets are titled accordingly. Go to the bank and change the name of your account to the name of the trust.*
In real estate, file documents with Sarasota County.
Adding a child to your bank account could present a problem because you could lose your assets if that child is sued. Best way is to add that child as a beneficiary on your bank account. Or you could add me...that would be great! (LOL)
* Sarasota Herald Tribune May 24, 2025, Real Estate Matters, Ilyce Glink and Samuel Tamkin
Contact Linda Holley, Realtor, William Raveis Real Estate, Sarasota Realtor, 941-914-4914, for your real estate needs in Florida.
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