Ask Terry Questions Beneficiary of Living Trust for Home

Beneficiary of Living Trust for Home

By Terry Savage on July 12, 2019 | Financial Planning / Retirement

My 90 year old Mother has a Revocable Living Trust along with Last Will & Testament in place. She has appointed me and my sister as Co-Executors of the Will.

In her Will she stated that she gives all of her personal effects in shares of substantially equal value to me and my sister such as jewelry, household goods, collectibles, and other chattels she owns at the date of her death to be distributed pursuant to the aforementioned provisions with the exceptions of the assets specifically listed, (this list may not include cash, stocks, bonds or real-estate).

Recently my Mother has decided that after her death she would like for my son to inherit her house worth $250,000. Presently she has no mortgage and she is the only person named on the deed/title.

How can she add my son as a beneficiary of her property after her death so that my son can avoid paying inheritance/gift tax and at the same time avoid probate on the property do to my sisters wrights to the will.

Layla Edelman

Terry Says

Your son won’t pay inheritance tax, but the property must go through probate – UNLESS she has re-titled it in the name of her Revocable Living Trust — and added an amendment to the trust stating that this person named in the amendment is designated to receive the home.  DONT DELAY!  Most people who have a revocable living trust are advised by their attorneys to immediately change the title to all real property to the name of the trust.  It shouldn’t cost anything and has no impact on taxes.  When was the last time you talked to her estate planning attorney??  Are you sure she has a RLT?  If the documents are old, you should have them reviewed.  If you need a new attorney to do this for her, search at  

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