Funding Living Trust Assets Attorney in Sherman Oaks & Glendale, CA
What is funding a living trust? For starters, “funding” your living trust is just as important as actually setting up your estate plan. In order for property to be distributed according to the terms of your Living Trust, title to your assets must be held in the name of your Living Trust. To do this, you must fund your living trust by transfer ownership of your assets to your living trust so that your living trust is the new owner of the assets.
How To Fund A Living Trust
Creating a family trust is a two step process:
Funding a Living Trust
1) Execute a Living Trust.
2) Fund your Living Trust by transferring title to your assets to the name of your living trust.
As a full service estate planning firm, we not only help you create a comprehensive estate plan that is unique to your needs, but we also assist you with funding your Living Trust.
Real Property Transfers
We prepare the real property transfer documents necessary to transfer your real property into your Living Trust. Not only do we help you create the deeds, but we also record it with the county Recorder’s office and ensure all property taxes exemptions are applied for.
We will transfer your other assets to your family trust through the use of a General Assignment. A General Assignment is a document that transfers assets without title to your family trust, such as personal belongings.
Assignment Of Business & Other Interests
We will assist you with the assignment of your business interest to your Living Trust through the use of an Assignment. An Assignment is a document that transfers your business and other interests, such as interests in promissory notes, deeds of trust, royalties, copy-rights, trademarks (to name a few) to your Living Trust.
Some business interests include membership interests in Limited Liability Companies or partnership interests in Limited Partnerships or General Partnerships.
We will assist you in transfering your shares of stock to your Living Trust. We will complete all stock transfer paperwork as well as provide you with the necessary stock certificates.
We will also assist you with the transfer of other assets, such as bank accounts, CDs, life insurance, and bonds, to name a few.
We do not simply provide you with a letter that tells you what to do once you have signed your trust, but rather we provide hands on assistance in the funding process. We want to ensure that not only do you have a valid estate plan in place, but that your living trust holds your assets. We will not only guide you, but help you when funding a Living Trust with your assets.
If you have questions regarding funding a living trust, please contact us at 818-649-9110 or email us at firstname.lastname@example.org. Our attorneys are experienced in helping you properly fund living trust assets at our law firms in Sherman Oaks and Glendale.