Posted on: 06th Dec, 2010 07:25 am
I am creating a living trust. I now own property as JTRWOS with my wife and another as tenants in common with my business partner. Will the trust now be listed as the owners on both properties? Does the trustee determine ownership and fair market value when I die?
Hi kathylane!
Welcome to forums!
If both the properties are in the trust, then it will be listed as the owners of both the properties. As far as I know, the trustee will determine the ownership and the fair market value of the property when you die.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
If both the properties are in the trust, then it will be listed as the owners of both the properties. As far as I know, the trustee will determine the ownership and the fair market value of the property when you die.
Feel free to ask if you've further queries.
Sussane