[PA] [PA] How do I transfer property into a revocable trust?
I just downloaded a revocable trust. How legit is it?
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In Pennsylvania, a revocable trust is valid if properly created (20 Pa.C.S. § 7701 et seq.). The trust must be notarized. You also need a new deed transferring the property into the trust, filed with the county recorder (21 P.S. § 351).
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Pennsylvania Living Trust Form (Revocable)
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I just downloaded a revocable trust. How legit is it?
Lexi, Chatbot
Anything else the lawyer should know?
I want to know if I did the right thing filling the form online.
Elizabeth
Hi there! I’m Liz, an attorney. What items do you plan to place in the trust?
A property. My partner wants to transfer her property to me.
Elizabeth
Understood, and you want it in the revocable trust? What state are you in?
Pennsylvania.
Elizabeth
In Pennsylvania, a revocable trust is valid if properly created (20 Pa.C.S. § 7701 et seq.). The trust must be notarized. You also need a new deed transferring the property into the trust, filed with the county recorder (21 P.S. § 351).
I also have a house under both our names. Should we put that house in the trust too?
Elizabeth
If you both agree, yes. It helps avoid transfer issues.
I think it’s already done. Should I create another deed for the house under both names even if we have a mortgage?
Elizabeth
Yes—you need a new deed to transfer it into the trust.
Okay! Can we add an insurance policy to the trust?
Elizabeth
Do you mean homeowner’s insurance?
No, a life insurance policy.
Elizabeth
Yes, a life insurance policy can be included in the trust.
Where in the trust do I put it?
Elizabeth
Normally, you name the trust as the beneficiary.
Thank you! It was nice talking to you.
Elizabeth
You're very welcome. Have a great day!
Elizabeth
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