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In this brief informational video, the speaker explains that a homeowner can place their property into a revocable living trust even if the home is still subject to a mortgage. Doing so allows the home to transfer to the homeowner’s heirs outside of probate, simplifying the inheritance process. Additionally, the speaker notes that heirs who later sell the home after receiving it through the trust generally will not owe capital gains tax on the appreciation that occurred before the transfer.
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