The Living Trust document is a probate avoidance tool that can be used to create a Trust entity to hold certain real property. This Trust entity is created in order to avoid the probate process upon the death of the Grantor of the Trust.
So what steps are required to get real property and other tangible assets into the Trust?
The creation of the Trust is the first step. Complete instructions for creating the Trust are contained in Standard Legal’s Living Trust legal forms software.
After the Trust is created, property must be transferred to the Trust (called “funding” the trust) in order to take advantage of the probate avoidance benefits.
To transfer real estate to the Living Trust, a deed must be prepared transferring title to the Trustee; the deed is signed by the owners of the property. This deed is then recorded with the county records office. Upon filing, the property will be transferred to the Trust and the terms of the trust will govern the ownership and disposition of that property.
Additional information on funding the Living Trust is provided with the Standard Legal’s Living Trust legal forms software. Further, the legal forms software package provides a Quitclaim Deed that permits the funding of the trust with real property that was purchased under another name besides that of the Trust.