It’s one of the most common and important questions in estate planning: “If I put my house in a revocable trust, do I still own it?”
The short answer is yes—for all practical purposes, you do.
While the trust holds the official legal title, you retain complete control and beneficial ownership for your entire life.
This distinction is the key to unlocking the power of a revocable living trust in Georgia.
It allows you to avoid probate and maintain privacy without giving up any of the rights you have over your property today.
Many Georgia families only discover this distinction after losing months—and sometimes tens of thousands of dollars—to probate court.
Understanding who owns what inside a trust helps you prevent that outcome and keep control of your assets.
This guide explains exactly how property ownership works in a Georgia revocable trust, who is in control, and what it means for you and your family.
The Core Concept: Legal Title vs. Beneficial Ownership
To understand how a trust works, you must first understand that property ownership can be split into two parts.
Think of it like a company: a CEO manages the company’s assets, but the shareholders are the ones who ultimately benefit from them.
- Legal Title: This is the official, on-paper ownership. The person or entity holding legal title has the authority to manage, sell, mortgage, and control the property. In a trust, the Trustee holds legal title.
- Beneficial Ownership (or Equitable Title): This is the right to use, enjoy, and benefit from the property. This includes living in the house, collecting rental income, or receiving the proceeds from a sale. In a revocable trust, the Beneficiary holds beneficial ownership.
In a revocable trust that you create for yourself, you are typically the Trustee and the Beneficiary.
This is why you lose no control—you hold both legal authority and beneficial enjoyment of the property.
The Three Key Roles in a Georgia Revocable Trust
Every trust has three essential roles. In a revocable living trust, you usually start by playing all three.
- The Grantor (also called Settlor or Trustmaker): This is you. The Grantor is the person who creates the trust and transfers their assets into it. As the Grantor of a revocable trust, you reserve the right to change or cancel the trust at any time.
- The Trustee: This is also you—at least while you’re alive and well. The Trustee manages the assets, holds legal title, and follows the rules written in the trust. You’ll also name a Successor Trustee to take over if you become incapacitated or after you pass away.
- The Beneficiary: This is you during your lifetime. You enjoy all the benefits of the property, such as living in the home or collecting rental income. After your death, the beneficiaries you name—such as your children—inherit the assets directly from the trust.
So, while the trust’s name is on the deed to your house, you, as the Trustee, control it, and you, as the Beneficiary, benefit from it.
Frequently Asked Questions About Trust Ownership
Before we move on, here are the most common questions our Atlanta estate planning attorneys receive when setting up trusts.
If a house is in a trust, who owns the house?
The trust is the legal owner of the house. However, the Grantor—the person who created the trust—retains complete control as the Trustee and full enjoyment as the Beneficiary.
Does the Trustee own the property?
The trustee holds legal title to the property, but they do not own it for their personal benefit. They have a fiduciary duty to manage the property solely for the benefit of the beneficiaries. When you are your own trustee, you are managing the property for yourself.
Can a trust own property in Georgia?
Yes. Georgia law fully recognizes trusts as legal entities that can own real estate, bank accounts, vehicles, and nearly any other asset. This is the foundation of effective estate planning.
If you’re considering whether a revocable or irrevocable trust is right for you, our guide on irrevocable trusts in Georgia explains how ownership and protection differ.
How Ownership and Control Change Over the Trust’s Lifecycle
Once you understand the roles, the next step is knowing how ownership shifts over time.
The genius of a trust is how it adapts to your life’s circumstances – automatically – without court involvement.
| Stage | Who Controls the Assets? | Who Benefits from the Assets? | How it Works |
|---|---|---|---|
| While You’re Alive & Well | You, as the Trustee. | You, as the Beneficiary. | You can buy, sell, refinance, or give away property just as you did before. Nothing changes in your day-to-day life. |
| If You Become Incapacitated | Your Successor Trustee (e.g., your spouse, child, or a professional). | You. The assets are used for your care. | Your chosen Successor steps in automatically, avoiding court-ordered guardianship. |
| After Your Death | Your Successor Trustee. | Your chosen Beneficiaries (e.g., children, grandchildren). | They pay bills and distribute property directly to your heirs—no probate needed. |
Practical & Financial Implications
Now that you know who owns what, here’s what it means for your finances and daily life.
Taxes and Your Revocable Trust
During your lifetime, a revocable trust is “invisible” to the IRS.
- No Separate Tax ID: The trust uses your Social Security Number.
- Personal Tax Return: Any income from trust assets (like rent or dividends) is reported on your personal Form 1040.
- Homestead Exemption: You don’t lose your Georgia homestead exemption or any property tax benefits when you move your home into the trust.
After your death, the trust becomes irrevocable and receives its own Tax ID (EIN).
The Successor Trustee will file a Form 1041 for any income the trust earns before distributing assets.
If you’re budgeting for your plan, this resource breaks down the cost of a revocable living trust in Georgia.
What Happens if You Don’t Use a Trust?
Here’s why this matters so much.
If your property remains in your personal name, it must go through probate court when you die.
In Georgia, that means:
- Court Control: Your property is frozen until a judge approves its transfer.
- Delays: Probate often lasts 9 months to 2 years, creating stress and financial strain.
- Public Record: Your will and list of assets become public information for anyone to see.
A properly funded trust avoids all of this. Learn more about how a revocable trust avoids probate in Georgia.
Summary: You Stay in the Driver’s Seat
Let’s circle back to the main question: Who owns the property in a revocable trust?
- On Paper: The Trust holds legal title.
- In Practice: You retain full control and enjoyment.
You give up nothing, but you gain everything:
- seamless management during incapacity
- complete avoidance of probate after death
- total privacy for your family
It provides the ultimate combination of control during your life and protection for your loved ones after you’re gone.
If you’re ready to explore setting up your own trust, visit our Georgia estate planning attorneys or learn more about creating a revocable living trust in Georgia.