The assets of a Trust are titled to that Trust. So how is an update made to a Trust that has the creation date as a part of its name?
Living Trust Questions
Answers to Frequently Asked Living Trust Questions
Can a Last Will Be Used to Set Up a Trust?
While it is legally possible, Standard Legal believes that a Last Will & Testament is most appropriate for designating beneficiaries and for outlining the desired methods of distribution of property upon death, but not for creating a Trust.
Living Trust Grantor and Trustee the Same Person?
Standard Legal’s Living Trust software is set up to initially make the Grantor and Trustee one in the same. But this requirement is not permanent, nor does it force that person to stand alone.
Transfer Outside House to Trust or Simply Will It?
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.
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.