If your trust has to be distributed, and you haven’t received it yet, you may be wondering how long it might still take.  Well, I’ve seen it done in a matter of weeks, in months, and I’ve also seen it done in years. It really just depends on the exact situation. When you have a property in a trust, and you pass away, in order for your inheritors to change the title from one person to the other, they have to go through a process called trust administration. Don’t allow yourself to get entangled in prolonged estate closures. Find out.

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Probate is simply one way to move assets from one generation to the next. It is a Court procedure (a court case) you file in Probate Court with one major goal in mind — to change title to different assets.  If something happens to you, for instance, you would want to change every asset that has your name on it to your wife, children, or other beneficiaries. Your beneficiaries need access to your assets in order to sell, buy, mortgage, or use the money in the accounts. That process is called Probate.  Probate takes a long time to finish in.

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In order to switch title to Bank Accounts, you must determine if the account is: Trust Account Joint Account Account with a Pay on Death Beneficiary (Beneficiaries inherit your assets) Regular -Account with no Pay on Death Beneficiary The above 4 types of accounts will go through different procedures to switch title. If you want to discuss what types of accounts are part of your particular situation, click here to schedule a strategy session today! For Trust accounts, you will need to change the title on the account to the new trustee. You should likely seek advice from legal counsel.

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Why Do People Do Add Their Children To Their Home As A Joint Tenant?  In order to avoid court proceedings after death to change title from the parents to children, you usually do one of two things: Add Child to the Property Title as Joint Tenants Form a Living Trust So, I get the question of why should I spend money on a living trust, when I can just add my child’s name on the property as a Joint Tenant? Joint Tenancy avoids court proceedings and transfers title to the survivors listed on the title. Should you put your children’s.

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Almost everyone has access to the internet these days. It is easy and possible to obtain almost any type of legal document you wish to have, at the click of a button, even living trusts. With companies like LegalZoom offering you the opportunity to create a living trust online, the question on your mind might be, do I need an attorney to do my legal documents when it comes to trust? The short answer is unconventionally surprising. The short answer is no. You don’t need an attorney to do a trust. In fact, besides LegalZoom, there are many services out.

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Living trusts and wills are both effective documents that will enable you to direct how your affairs should be handled after you die. The question is which do you need? Do you need one or both, and what is the difference between them? What Is A Will? Let’s say you’ve worked hard and saved some of your money. You’ve bought two properties and have several bank accounts. If you go ahead and make a will right now, it will simply serve as a set of instructions to the probate court. It doesn’t really help get you out of court. Wills.

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