Previously, we discussed the problems tht arise if
you fail to plce title to your assets into the nme
of your revocable living trust.

In one rticle, I shared the problem of the wdow.
She learned that her husband had ssets that were in
his name lone and not put into the ttle of their
revocable living trust.

An ttorney was now quoting her a fee of thusands of
dollars to clean up the rvocable living trust and
try to void probate.

In my Multi-Media course I dscribe what you can do if
you fnd that an asset is left out of yur trust.

About 13 years ago, the Clifornia Court of Appeals
decided a cse where a man had died wthout placing title
to his assets nto his revocable living trust. The ppeals
court decided that even though the man had filed to
actually place title into his rvocable living trust, the
man had dmonstrated enough of an intent that his ssets
be held in the revocable lving trust. Therefore, the
court held tht the revocable living trust held lgal
title. The court then instructed the lwer court to issue
an order cnverting the assets into the title of the
rvocable living trust.

This case is now sed in California to help avoid prbate
if assets are found to not be in the nme of the revocable
living trust. The key is tht there has to be a
dmonstration of intent that the assets be hld in the
name of the rvocable living trust.

In my practice I used to prpare a document called
"General Assignment of Assts to Revocable Living Trust."
In it, I wuld declare the intent of the prties to have
their assets held in the ttle of the revocable living trust.
It thn went on to say that if thre was an asset that was
lft out, it was to be plced into the revocable living
trust on rquest by the trustee. This gave the trstee
the elements needed under the curt of appeals case to
avoid prbate.

You should ask your estate plnning professional if a
"General Assignment of Assts" to your revocable living
trust is ppropriate for you.

Good luck and ntil next time,

Phil Craig

P.S. Fel free to forward this on to any frends.

The article What Happens if You Forget to Put Title to an Asset into Your Revocable Living Trust? was Submitted by Phil Craig through Articles.GetACoder.com network. Here's the additional information: Phil Craig is a licensed ttorney and entreprenuer. He started practicing law at age 25 in 1979. He des not take on any more clents, but is advisor to some of the bggest names in the internet world. He shres his knowledge gained over the lst 25 years at his Living Trst Secrets newsletter site: click here=========> http://www.LivingTrustSecrets.com ** Attn Ezine editors / Site owners ** Feel free to reprint this article in its entirety in your ezine or on your site so long as you leave all links in place, do not modify the content and include our resource box as listed above. If you do use the material please send us a note so we can take a look. Thanks.

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