May 2014 Archives

What is the best way to title assets or property into a Living Trust in order to avoid probate?

When a person establishes a Living Trust (also sometimes called a "Revocable Trust" or an "Inter Vivos Trust"), they must "fund" the Trust in order to avoid probate.

What happens when a Living or Revocable Trust is not funded?

If the Settlor does not take the steps necessary to fund a Living Trust, in most instances a probate will be necessary in order to allow the transfer or liquidation of the Settlor's assets. This would apply to most assets which are titled only in the Settlor's name and which do not have a beneficiary or a POD designation.

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