Living trust documents can serve many purposes, so whether you need it will depend on your reasons. Legacy State Planning team provides the professional packages of Digital Estate planning with access to a full team of estate planning lawyers at no additional cost. The Legal team will assist you in properly funding your trust and setting up your HCPOA and FPOA. Benefit from the most simple way to manage your lawful documents online by booking an appointment with a Trust Advisor today.

Q: We just created a living trust. How do we put our house into the trust?

A: You may put the property in trust by creating a quitclaim or warranty deed transferring the real estate from the current owners to the trusted fund. To add belongings, the grantor(s) of the foundation create a real property deed with the grantee. The deed should be signed and recorded in the local recorder office where the house is located. Or if you are using a Digital Trust you can log into your Digital portal and add your home to the trust within 10 minutes.

Q: Is there a type of living trust form that will stop a home foreclosure or bank auction?A: If the foreclosure process has already been started, creating a trust will not be helpful for stopping the process. If a person knows that there is a pending claim by a creditor, and then makes a transfer of property to a fund, it may give rise to claims that are a fraudulent conveyance intended only to prevent creditors from collecting money owed out of the asset. If a claim of fraudulent conveyance is proven, the court can void the transferring and determine that the property is still actually in your ownership.

Q: My uncle is the trustee of our family trust, but he’s going through personal problems and due to the conflict going on, has ignored u sand hasn’t given the beneficiaries the trust income for a while now. What can be done?A: Trustees are considered fiduciaries, which means they have a duty to follow the instructions detailed in the documents and act with the utmost care and loyalty toward the property. A trustee must act in the best interests of the trusted fund and not for personal benefit. For example, a trustee should not profit from or borrow against the foundation.When a trustee doesn’t follow instructions or acts for personal gain, it’s called a breach of fiduciary duty.If the trustee is in breach of fiduciary duty, a lawsuit may be filed with the court, which may result in the replacement of the trustee by a successor or other measures being taken.

Q: I’m wondering if my wife and I create a living trust, will we need to file it at court so that the contents of the trust can be seen by anyone?A: No, living trust are private allowing you to avoid probate filings like a last will. While you may wish to voluntarily have it on file in some instances, it’s not a mandatory requirement and therefore you can keep assets, debts, and choice of beneficiaries from being disclosed.

Q: I’m wondering if my wife and I create a living trust, will we need to file it at court so that the contents of the trust can be seen by anyone?A: No, living trust are private allowing you to avoid probate filings like a last will. While you may wish to voluntarily have it on file in some instances, it’s not a mandatory requirement and therefore you can keep assets, debts, and choice of beneficiaries from being disclosed.

Q: I’m wondering if my wife and I create a living trust, will we need to file it at court so that the contents of the trust can be seen by anyone?A: No, living trust are private allowing you to avoid probate filings like a last will. While you may wish to voluntarily have it on file in some instances, it’s not a mandatory requirement and therefore you can keep assets, debts, and choice of beneficiaries from being disclosed.