You will have to change titles on your real estate and other assets with formal titles such as bank accounts, stocks, other investments. This is not difficult, and our office can help you. Transferring real estate will require preparation and recording of a new deed and transfer tax documents. Each financial institution has its own process, but it can be as simple as giving instructions to the bank to change the name of the owner on your account.
Sometimes your objectives can be accomplished without actually retitling assets, but simply designating the trust as beneficiary. An attorney can advise you on the best process in your particular situation. Remember, a trust will not achieve your objectives if you do not actually retitle your assets appropriately. An integral component of the estate planning process is funding your trust.
