Happy Holidays from Imagine Realty

Friends,

We know this time of year can get very busy, so we just wanted to take a moment to wish you happy holidays!

We’d like to take a minute to thank you for your continued support this year. We wouldn’t be where we are today without you. It has been our pleasure to help make your real estate dreams come true.

We hope you enjoy this holiday season and make some wonderful memories with your friends and family. It truly is the most wonderful time of the year.

Remember, we are always here to help you in any way we can. Just give us a call.

Should You Have Your Home in a Trust?

Today I am here with Reba Birmingham from Long Beach Law to talk about the pros and cons of having your home in a trust.

The main pro to having your home or property in a trust is avoiding probate. Probate is very expensive, and it typically takes 10 months to a year. It cost 4% of the first $100,000 and 3% of the next $100,000. It then costs 2% of the next $800,000.

Something important to know is that real estate is valued at its fair market value. So, if you have a $1 million house with a $900,000 mortgage, you don’t have a $100,000 probate, you have a $1 million probate. So, if you want your loved ones to inherit the house instead of having to sell it, it’s best to do a trust.

The con to having your home or property in a trust is that is does cost a little bit. Always avoid Internet bargains because you could get scammed. If you do want to put your property in a trust, have a professional help you.

If you have any other questions, you can get a hold of Reba by phone at (562-621-6300) or go to www.longbeachlaw.com.