What Type of Assets Can I Put Into a Living Trust?
At EstateLDA, one of the common questions we are frequently asked is: “What type of assets can I put into a Living Trust?”
When a person dies and leaves real estate, real property, cash, valuable personal property, or other unassigned assets, probate is often the next step. Avoiding probate with EstateLDA can be very affordable and simple.
One way to avoid the cost, complexity and stress of probate court is to setup a legally-compliant living trust. This can be a critical protective and planning tool in your planning toolkit to provide your heirs or beneficiaries a clear way to save money on probate.
A living trust isn’t the only way to save money on probate. For some assets, you may decide to use other probate-avoidance devices instead, like TOD or POD (transfer on death or payable on death). But a living trust is a common device which millions of people set up. With very little difficulty and our affordable, easy-to-use process, we can create a custom living trust online. You are able to do with the tools provided here on this website at www.estatelda.com, through our simple trust creation software.
Below are some examples of what we often put into a trust:
- homes and other real estate (even if you have a mortgage)
- stocks, bonds, and other types of accounts that may be held by brokerages
- small business interests, whether you own the company directly or have stock in a closely held corporation, or partnership interests, or shares in a limited liability company
- patents and copyrights may also be listed
- precious metals like silver, gold, platinum or others
- any valuable works of art, furniture or antiques,
- valuable cars or collectible cars,
- any valuable collections of stamps, coins, or other objects.
Did you know that the owner of a Trust can also add property to their living trust at any time? It can be an evolving document as long as you choose forit to be. As the trustee, you can also sell or give away property in the trust or take it out of the living trust and put it back in your name. There are a number of great options suited to exactly what your circumstance may require.
If you choose to avoid Estate Planning, the fate of your finances may be at risk. Planning is a responsible, proactive course to pursue that will give you the peace of mind you deserve, as for all of us, the future is not predictable or certain. Many of us may choose to “put off” and delay that which can help our family or loved ones navigate life where they depend on us financially.
Estatelda.com is not a substitute for an attorney. If you have concerns, or are not sure about your circumstances or situation, we encourage all consumers to contact an attorney. Rather than pay an attorney to help you prepare. your living will or trust, estatelda.com is your online answer. Simply contact www.estatelda.com and we can help you prepare your living will and trust.