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Estate Planning >> Trusts & Living Trusts >> Living trusts and divorce

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Discussion: Living trusts and divorce-
#161, posted 19 Dec 2021 7:51 pm222 words
SherryG (Offline)

Joined 19 Dec 2021 7:43 pm

1 post

I am the victim of identity fraud and the perpetrator is in prison. As a result my credit was destroyed and many of those creditors still try to collect on debts that are not mine. As a result, when I sold my real estate last year, many of those creditors that had liens and judgements were unfairly paid. When I purchased our new home (with the proceeds from selling my other property), we put the property in just HIS name instead of both. This was to avoid what happened last time. Unfortunately, now I would like to protect my interest in this property (which is 100%). If something ever happens to my husband, I am not even on the deed! The mortgage company does have a due on sale clause and will not allow me to be added to the deed unless we refinance or pay off the mortgage. They will, however allow us to put the property into a living trust. My thought is to put it in a living trust with me as the trustee, and my husband has agreed. My question is, will the living trust allow me to retain control over the property if we ever divorce? I know it should be fine should he pass away, but what about divorce? I am in the state of Oregon.

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