Living trusts and out-of-state rental property
Can California real estate condos be covered by Living Trust prepared by Illinois lawyer for Illinois resident. Condos are rentals. None are vacation properties.
Total estate is less than four million dollars.
Terry Says: Your revocable living trust can definitely own out of state and/or rental properties. BUT, you should consult with both your tax advisor and estate planning attorneys to see if this is the best solution for these properties.