Revocable living trusts need to own your assets or the primary reason for a revocable living trust, probate avoidance, isn’t going to be achieved. For the trust to own the assets, they need to be retitled in the name of the revocable living trust. Each type of
Intestate Inheritance Is the Way the State Divides Property Intestate inheritance does not mean that you will inherit something from someone who lives in another state. Intestate inheritance means that you inherit from a relative who dies without a valid will or a trust and owns property.
To die intestate doesn’t mean dying in the neighboring state or dying without any assets. Dying intestate means to die without a valid will or a trust. A will is the legal instrument that tells the judge how the decedent wishes his/her property or estate to be
Avoid Probate (Avoid Probate – This is a small subchapter on how to avoid probate from my book Protecting Your Financial Future.) Here is how to avoid probate. When your bank account is owned by your trust, i.e., it is in the name of your trust, and
