Common Questions

(1) Completing a Living Trust & Pricing

(2) Titling Assets in Your Trust

(3) Changes In Marital Status

(4) Amendments, Reviews, & Changes

(5) Why & When To Review & Update A Trust

(6) Why You May No Longer Need or Want An AB or ABC Trust

(7) Important Issues When Someone Dies or is Dying

(8) Real Estate Issues

(9) Medical Directives

(10) Granting / Obtaining Signature Power

(11) Trust Copies & Originals

(12) Incapacity Issues

(13) Confidentiality Issues & Policies

Titling Assets In Your Trust : Overview

1. The Client’s Crucial Role
   Compared to probate, the ease with which a living trust can pass an estate is remarkably smooth and hassle free. Though the attorney plays a crucial role, YOU -- MORE THAN ANYONE ELSE -- determine the smooth and successful outcome of your trust. Whether or not your loved ones avoid the "probate nightmare” depends upon your present and continued diligence in making sure that all the assets which you own right now -- and all of the assets you acquire in the future -- are transferred to, and titled in, the name of your trust. That is your part in the process and demands the primary focus of your attention and energy. The work is minimal and the payoff is a thousand fold
2. Leading a Horse to Water is One Thing!…
   No matter how strongly we emphasize the subject, or how clearly we spell it out, invariably we have clients who ignore our advice and instructions. Later comes the heartbreaking call from a distraught surviving heir experiencing the harsh consequences caused by the client's unfortunate failure to have expended the minimal effort required to have titled the asset in the trust. Remember -- you complete a trust to stay out of probate. Do not defeat your intentions by neglecting to follow the one straightforward rule of making the trust the recognized owner of your holdings.
3. The Client Golden Rule:
   (With the exception regarding Qualified Retirement Plans noted below)
   All of the property and assets that you own now -- and any acquired in the future -- must be titled in the name of your trust.
4. The One Major Exception: Qualified Retirement Plans
   After so heavily emphasizing the importance of titling your assets into your trust, you should be warned about one major exception to the rule -- "Qualified Retirement Plans”. These include but are not limited to IRA's; KEOGH's, 401K's; 403B's, etc.
   DO NOT TITLE ANY QUALIFIED PLAN, OR ANY ASSET OR ACCOUNT THAT IS PART OF A QUALIFIED PLAN, IN YOUR TRUST. A discussion on how to identify a "Qualified Plan” and what to do with it is discussed under a separate heading entitled "QUALIFIED RETIREMENT PLANS".
5. Most Types of Assets Discussed
   One by one, this section attempts to deal comprehensively with the varying types of assets. Please realize though, the impossibility of addressing every situation. If it is not covered here, use a common sense, goal oriented approach. In other words nothing substitutes for your common sense and persistence in the asset re-titling process. Simply approach the institution and state: "I want to title my asset/account in my trust. Tell me what I need to do". Do not make the mistake of thinking this process to be a legally technical task. It is not. The complexity and paperwork involve little more than if you were adding your middle initial to the way you hold title now -- say from John Smith, to John T. Smith.

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