Autofill Legal Michigan Deed Of Trust Forms For Free

A trust deed is a legal document that sets out the rules for establishing and operating your fund. It includes such things as the fund's objectives, who can be a member and whether benefits can be paid as a lump sum or income stream.

What Happens If You Go Into Care When Your House is in a Trust? The trouble with trust schemes is that if you put your property in trust, then go into a residential care home or a nursing home, your home is no longer owned by you - it is not part of your capital and cannot therefore be used to fund your care home fees.

While a trust can hold and convey property, the Court of Appeals decision places a limitation on the nature of a trust's real property ownership. Under the recent Shaaf v. Forbes decision, it is a matter of law that a trust cannot hold real property as a joint tenant with rights of survivorship.

Transferring your assets into a trust can make them non-countable for Medicaid eligibility, although they could be subject to the Medicaid look-back period if the trust is set up within five years of your Medicaid application.

To transfer real property into your Trust, a new deed reflecting the name of the Trust must be executed, notarized and recorded with the County Recorder in the County where the property is located. Care must be taken that the exact legal description in the existing deed appears on the new deed.

Any asset you own can be placed into a trust, including property, but there are very important considerations you need to make before taking such action.