Help ensure deeds, accounts, and beneficiary designations are coordinated with a revocable trust rather than left disconnected from the documents.
A signed trust is only part of the work
A trust generally governs property held by the trust and property payable to it. Assets not properly transferred or designated may remain outside the intended plan, sometimes requiring probate or other procedures.
Real property requires attention to title
A deed may be needed to move an eligible real estate interest to a trust. Existing ownership, liens, homestead protections, lender provisions, and local recording requirements should be reviewed before a transfer.
Retirement accounts need separate analysis
Retirement plans and IRAs often should not be casually retitled into a revocable living trust. Beneficiary designations, income tax rules, payout provisions, and incapacity planning must be evaluated together.
A practical asset inventory helps
We identify the major accounts and properties, determine who owns them today, and develop a workable coordination plan with the client’s financial professionals as appropriate.