Reply to How to move items into a trust??

Forum Index » Eldercare

Reply to "How to move items into a trust??"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous]Are the the value of the assets large?  Sometimes it’s not worth the hassle.  My mom’s real estate and brokerage accounts are in her trust and that was basically done so that when it’s time to divide the assets we don’t have to split everything in half.  Someone could take a house and someone else could take the equivalent value in cash and it won’t matter because they’re all trust assets.

Basically you re-title everything into the name of the trust.  So instead of bank accounts in your and their names they’re in the name of the trust.  I have one account joint with my mom outside the trust that I keep some emergency money in so I will have access to cash without a lot of hassle when the time comes.  The rest are trust assets.

You have to change the names on all of the accounts to the name of the trust, and change beneficiaries of things like life insurance and 401k and bank accounts to the trust, if you want all assets to be in the trust.  Create a binder of trust assets to keep organized.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics