For many, the mere thought of making a Revocable Living Trust is a daunting thought. However, it doesn’t need to be. With the help of a good online Living Trust maker or Living Trust kit most people will be able to prepare their own documents.
Irrespective of the means you use to make your Revocable Living Trust, there are a number of steps that you need to go through to make your trust.
Do some research in to Revocable Living Trusts and state laws and determine whether a Living
Trust is right for you. If you are happy that it meets your needs, proceed to step 2 below.
Make a list of all of the assets that you would like to transfer into your trust as well as a list of the people that you would like to receive those assets when you die. Remember that you can change your mind at any time after you create the trust.
Get the necessary Revocable Living Trust forms from an attorney, a legal kit or use an online living trust maker to prepare the forms for you.
Consider whether you want to add any child sub-trusts or custodianship provisions to your Revocable Living Trust Agreement in order to provide for the management of property that you wish to give to young beneficiaries.
Complete your Living Trust forms in accordance with the instructions for execution. Most pieces of online software and legal kits will give you clear instructions for completing your documents.
Verify that you have legally transferred your assets to the Revocable Living Trust. Remember, that in some cases, such as in relation to real estate, you cannot simply state in your Living Trust Agreement that the property is transferred to the Living Trust. In fact, you must execute a separate deed of transfer for the property. If any asset is customarily transferred using a specific type of transfer deed, you will need to use that type of deed to transfer the asset to your Living Trust.
Have your Living Trust Agreement notarized and/or witnessed and, if necessary, recorded with your local county recorder's office to make it official.
If you are in any doubt as to how to make a Living Trust or as to how they operate, you should speak to an estate planning attorney.
Make Your Own Living Trust And Avoid Probate
This book will guide you step-by-step through the process of creating your very own living trust, transferring assets to your living trust and subsequently managing those assets. All required forms are included.
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