Yes, trusts are commonly used by real estate investors in CT to purchase investment properties while obtaining legal and tax advantages.
Costs vary, but plan on $1500 – $5000 to create a trust and add real estate assets to it. The trustee may also charge annual fees.
Living trusts generally provide more benefits like privacy and probate avoidance. LLCs offer liability protection but less estate planning advantages.
Yes, you can place your primary home in a living trust in CT. This provides probate avoidance and other benefits while still living there.
No, transferring a home into a trust is considered a sale, so capital gains taxes still apply based on the home’s increased value.
Yes, most lenders will approve mortgages for trusts, though interest rates may be higher than personal loans. The trustee’s credit is usually considered.
