Say a person owns both a home and has a Trust, but the home is not included within that Trust. What is the best way to pass that home on to beneficiaries?
The answer depends on what the current owner cares to do with the property.
Living Trust Questions
Answers to Frequently Asked Living Trust Questions
What is a Certification of Trust?
A Certification of Trust permits the Grantor or Trustees of a Trust to provide required information regarding the Trust to those that need or want it.
Can I Name a Contingent Beneficiary in a Standard Legal Trust?
Standard Legal’s Living Trust Agreements generally fall into one of two categories: Trusts that pass property to the Grantor’s children; and Trusts that pass property to specifically named beneficiaries
For both of these types of Standard Legal Trusts, the Grantor can choose a how to distribute property to his/her named Beneficiaries if any of these individuals predecease (pass away before) the Grantor.
The choices are “per stirpes” or “per capita.”
And the choice of distribution provides a structure for addressing for contingent Beneficiaries.
Can I Edit Parts of an Existing Living Trust Document?
Some changes can be made to an existing Living Trust by “delineation” or “interliniation” – meaning words can be added or crossed out and modified, with such changes being initialed to show the change is intended.
But this editing option should be used in a limited way.
Must I Amend My Living Trust if I Move States?
Moving to a different State does not necessarily require a change to the documents or the creation of an Addendum to a Living Trust.
Can I Create a Living Trust with Standard Legal if I Have a High-Value Estate?
Whether single or married, Standard Legal has some Living Trust options for people with a high value of assets.
Can a Grantor and Trustee Sign a Trust Separately?
A Grantor and a Trustee can sign the complete Living Trust document separately, but some specific steps should be followed to eliminate any potential legal issues.
Can Standard Legal’s Trust Have Staggered Distributions?
Standard Legal’s Joint Trust documents do not provide for staggered distribution to child beneficiaries directly within the primary language. But there is a straight-forward way to accomplish a distribution of assets to specific child beneficiaries in specific amounts on specific dates using a second document included within the Living Trust package.
How Do I Add Conditions to a Living Trust?
Some people wish to add conditions or requirements to a Living Trust before the distribution of that Trust takes place. So what is the best way to add such a condition to the Revocable Living Trust documents offered by Standard Legal?
Can I Create a Testamentary Trust with Standard Legal?
Standard Legal believes that most people decide to create a Living Trust primarily to avoid Probate Court for their beneficiaries after their own passing.
A Testamentary Trust does not avoid Probate.