A key component of the California estate planning process is to FUND YOUR TRUST. What does that mean exactly? That means taking an active role in transferring your assets to your trust. At our office we assist with transferring each asset; bank accounts, stock brokerage accounts, life insurance, bonds, stocks, and the list goes on… oh ya, and REAL ESTATE. It is crucial to re-title ALL real estate holdings into the trust.
Why do I say ALL real estate holdings? I say this because many people have a low value parcel of land in Palmdale, or a strip of land next to their parent’s house, or a timeshare. These all should be transferred to your trust to make things easier and cheaper for your loved ones.
Also transferring property held in other states is important. If you own property anywhere in the country make sure it gets transferred to your California trust. We can help facilitate that. In some states we can do the deeds ourselves and others we hire a deed service.