This episode of The Property Playbook features Peter Carlseen interviewing trust and estates attorney Mark Ignacio about why estate planning—especially trusts—is CRITICAL for landlords. Mark shares his personal journey into law, shaped by a transformative early exposure to the legal profession and later by his stepfather’s death, which forced his family through a costly and avoidable probate process. That experience led him to focus on trust and estate law to help families prevent similar hardship through better planning.

Mark explains that for landlords, trusts are far more effective than wills alone. A will still sends an estate through probate, which can take over a year, delay access to rental income, create family conflict, and cost tens of thousands of dollars in fees. In contrast, properly funded trusts allow rental properties to bypass probate, ensure continuity of rent collection, and designate a trusted successor to manage properties in cases of death, incapacity, or even voluntary retirement. Without a trust, courts may appoint conservators or fiduciaries—sometimes strangers—to control property and finances.

The conversation also addresses common misconceptions that trusts are only for the wealthy, noting that anyone who owns property, has children, or runs a business can benefit. Ignacio highlights additional advantages such as liability protection when combined with LLCs, flexibility through revocable trusts, and the importance of regular reviews as life circumstances change. He cautions against DIY trust solutions, emphasizing the human judgment required in estate planning, and encourages proactive planning to protect both assets and relationships.

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