Moving Assets into a Trust – What to Know and How Santa Ana Trust Lawyers Can Help

Moving assets into a trust can be complex and Santa Ana trust lawyers make sure that a trust is properly funded. While the attorney will be able to do much of the work on behalf of the client, there are a number of documents that are needed in order to move assets into a trust. Each of these documents serves to ensure that the asset has been accounted for and that ownership of it has been transferred from the client to the trust.

In order to smooth this complicated process, the wills and trusts lawyer supplies clients with a list of what needs to be collected in order to move assets into a trust. Not every item on the list will apply to each client. By going through and gathering the documentation that is relevant, an individual can speed the process and make sure that their assets, as well as their businesses, heirs, and personal lifestyle are fully protected.  Moving assets into a trust requires specific documents that serve to ensure that the asset has been accounted for. Some of that information includes, but is not limited to: 

Real Property

  • Any recorded deed for property owned by the individual 
  • Copies of title and/or homeowner’s insurance policies
  • Copy of the most recent property tax bill for any real property owned by the individual
  • Deeds of trust, mortgages, and promissory notes
  • Vehicle registrations, including mobile homes

Financial Statements

  • Checking and savings accounts
  • Money market accounts
  • Credit union accounts
  • Safe deposit boxes
  • Investments, mutual funds, and dividend reinvestments
  • Certificates of deposit
  • Original savings bonds or treasury notes
  • College tuition and savings programs

Specific Assets or Credits

  • Original copies of publicly traded securities held as certificates
  • Deeds of trust, promissory notes, mortgages, or other financing statements held by the individual
  • Shareholder agreements
  • Original stock certificates
  • Trust agreements when the individual is a beneficiary
  • Deeds/Contracts for burial plots
  • Financials and contracts for annuities
  • Pension plans, IRAs, 401(k), deferred compensation, etc. 

Business Documents

  • Closely held business or professional association – corporate books
  • Partnership agreements for general or limited partnerships
  • Operating agreement for LLCs
  • List of assets for sole proprietorships owned by the individual

While gathering each of these documents can be a time-consuming process, it is an important part of working with your Santa Ana trusts lawyers in laying the right foundation for your trust. Each of the items above may be used to fund the trust, and therefore, a change of title, beneficiary designations, or other aspects may be in order. There are some pitfalls that can cause difficulties or delays, so getting a quick start will bring about a quicker end! Your attorney will have solid advice and suggestions on how best to track down this vital information. If you have further questions on how to move assets into a trust or if we can help you with this process, please contact us at 800-244-8814 to schedule an appointment at our Santa Ana office or one of our other law firms located throughout the state of California.

If you have any further questions about asset protection planning and strategies to shield your wealth, or if you’d like to have your current asset protection plan reviewed to make sure it still meets your needs, please contact us at our California asset protection office at 800-244-8814 to set up a consultation.

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