P.O.D.D. into a trust? Estate planning with no heirs.

[Robert Brown]

I’ve acquired 7 properties so far — mostly older duplexes in SE Wisconsin (and hoping to add more).

I’m nearing 50 and currently don’t have a will or any estate plan in place. I have no direct heirs and no investments outside of real estate, and would like to get something structured.

From some basic "armchair" research, I’m leaning toward re-recording my deeds as payable-on-death to a trust. My thought is that this would keep things simple during my lifetime (easy to sell/refi, etc.) while setting up a structure for succession after I’m gone.

A few questions for those who’ve done this:

• Can a trust essentially remain “mostly unfunded” until death?

• What costs or legal complications should I expect?

• Are there meaningful downsides to this approach?

• What should I be looking for in an attorney or firm to set this up properly

• What happens if I become incapacitated?

• I currently self-manage,  is there a best-practice on passing that responsibility?
  
  

Appreciate any insight from those who’ve navigated this, especially other small-to-mid portfolio owners.