Archive for March 2015
Funding Real Property Part I
In the realm of trust funding, unlike most assets, there are many nuances to funding real estate. To understand how and if we transfer title of real property into trust requires first some background knowledge. Real property has some unique characteristics and is subject to different laws than most personal property. As a starting point,…
Read MoreFunding Automobiles into Trust
Funding automobiles into trust can be a challenging exercise. These challenges are mostly wrought from the necessity of interacting with the North Carolina Department of Motor Vehicles to effect the title changes. Funding is accomplished by transferring title of the vehicle from the individual to the trustee. Like with any other transfers of vehicle titles, this is accomplished…
Read MoreFunding Personal Property into Trust
Personal property is all of your “stuff” that doesn’t have title documentation. Examples of personal property include: furniture, appliances, jewelry, stamp collections, clothing, etc. Funding personal property is an often overlooked step in the trust funding process. This is unfortunate since many people hold significant wealth in their personal property, and transferring this items to…
Read MoreFunding Bank Accounts into Trust
In our last post, we discussed the importance of trust funding, and how a properly funded trust can avoid probate and allow for the safe handling of your assets in the event of a mental disability. We will now take a look at funding specific assets, starting with bank accounts. Bank accounts can be one…
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