Currents August 2019 August 2019_Currents Web | Page 12

12
Currents
August 2019
By: Martin Zevin, P.A.
Happy Summer
From Currents
If You Now Have Equity In Your Home,
Consider Doing A Trust
In 2012, I wrote an article recommending against
doing a Revocable Living Trust if you were “under-
water” with your mortgage. Many of my clients had
bought or refinanced from 2004 to
2006 at the top of the market.
However, the last seven years
have seen significant increases in
property values.
This has
resulted in many homeowners
now having positive equity. If
prices continue to rise, many
more homeowners will have
some positive equity.
In the article I wrote in 2012, I
advised clients to live long
enough to see their properties
increase in value to exceed the
amount of the mortgage; at that
time, they could come back to me
to discuss a Revocable Living
Trust. That time is now here.
Without equity in your home, it
does not make sense to pay an
attorney the fee and costs
Palm-Aire Resident
involved in creating a Trust, since
you would be burdening your
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