Anonymous
07/14/2013 20:24
Subject: If you have a revocable trust
Dude. So am I (a lawyer). So I know you know that there is value to having one, but that anything not titled in the name of the trust, is not part of the trust res, and so is in your estate (if you own it). Do you agree with that and that if you haven't put your assets in the trust's name and you happen to die, they will go through probate and not the trust? Isn't that the difference between an inter vivos and a testamentary trust?
Yep. Will have to go through probate and then to the trust. Which then governs how the assets will be distributed. But our trust exists today, it doesn't spring to life at death. We do have some things in it. Just not a lot.
Not a dude or lawyer, but why have a trust if you plan that your estate will still go through probate? Why not just a will?
Yep. Will have to go through probate and then to the trust. Which then governs how the assets will be distributed. But our trust exists today, it doesn't spring to life at death. We do have some things in it. Just not a lot.
Not a dude or lawyer, but why have a trust if you plan that your estate will still go through probate? Why not just a will?
Anonymous
07/13/2013 19:45
Subject: If you have a revocable trust
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Everything should be in the trust, otherwise what's the point?
Per our will, everything will go to trust. Trust states when kids can get assets.
That is not a revocable inter vivos trust.
As noted, there's little point in doing one of those if you don't title your assets in the trust's name.
Dude. I am a lawyer. I know what kind of trust I have. It is absolutely a revocable trust and there is value to having one.
Dude. So am I (a lawyer). So I know you know that there is value to having one, but that anything not titled in the name of the trust, is not part of the trust res, and so is in your estate (if you own it).Do you agree with that and that if you haven't put your assets in the trust's name and you happen to die, they will go through probate and not the trust? Isn't that the difference between an inter vivos and a testamentary trust?
Yep. Will have to go through probate and then to the trust. Which then governs how the assets will be distributed. But our trust exists today, it doesn't spring to life at death. We do have some things in it. Just not a lot.
Anonymous
07/13/2013 18:34
Subject: If you have a revocable trust
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Everything should be in the trust, otherwise what's the point?
Per our will, everything will go to trust. Trust states when kids can get assets.
That is not a revocable inter vivos trust.
As noted, there's little point in doing one of those if you don't title your assets in the trust's name.
Dude. I am a lawyer. I know what kind of trust I have. It is absolutely a revocable trust and there is value to having one.
Dude. So am I (a lawyer). So I know you know that there is value to having one, but that anything not titled in the name of the trust, is not part of the trust res, and so is in your estate (if you own it).
Do you agree with that and that if you haven't put your assets in the trust's name and you happen to die, they will go through probate and not the trust? Isn't that the difference between an inter vivos and a testamentary trust?
Anonymous
07/13/2013 15:15
Subject: If you have a revocable trust
Anonymous wrote:Anonymous wrote:Anonymous wrote:Everything should be in the trust, otherwise what's the point?
Per our will, everything will go to trust. Trust states when kids can get assets.
That is not a revocable inter vivos trust.
As noted, there's little point in doing one of those if you don't title your assets in the trust's name.
Dude. I am a lawyer. I know what kind of trust I have. It is absolutely a revocable trust and there is value to having one.