Many tools are available to you as a California resident when it comes to crafting your estate. You may choose to create a living trust to provide for a smooth transition of your assets in the future.
One important component of establishing a trust is to ensure that anything placed inside it is properly titled as belonging to the trust. In general, all properties of real estate should be titled to a trust rather than an individual, but you’ll want to discuss this directly with your Pasadena estate planning attorney to make sure it applies to you.
Unfortunately, far too many California families deal with long expensive and confusing court processes when someone fails to move land houses or other properties into a living trust before that person passes away. According to the law, what is written on the property title is typically what is considered ownership.
You can put numerous properties inside a trust, and you may also wish to set up separate trusts depending on your individual goals. You can work through a personal strategy on your own or with the help of your financial professionals and estate lawyers.
To create a trust to hold properties, the title must be changed. If you have questions about how this applies to your estate plan, you can work with a lawyer to discuss various opportunities for a living trust to hold your assets and when you’ll need to change the title to those assets so that they flow to your beneficiaries as intended. Our Pasadena estate planning lawyers have extensive experience in this field and will work with you to create a customized estate plan aligned with your needs.