![]() However, if you have antique or show cars that are worth a considerable amount of money, you might include those. Most of the time, you would not include your car in a living trust as there can be liability concerns that may arise with the Department of Motor Vehicles and auto insurance agencies. But, putting solely-owned financial accounts in a living trust allows for easy access to funds for trustees and quicker disbursement to beneficiaries. If you are joint owner of an account, you would not need to include it in the trust because it would pass directly to the joint owner when you die. ![]() Financial Accountsīank accounts that are solely owned should be placed in a living trust. Most of the time, when a trust is drafted, a quit-claim deed is drafted at the same time to transfer property to the trust. However, other types of real estate such as vacation or investment properties can also be included. That’s because real property, such as a family home, usually makes up the bulk of a person’s estate. Real estate is the most common property type put in a living trust. You can actually put any type of property in a living trust, but there are four common types of property that most people include. No matter what the reason, after you have decided to create a trust, the next logical step is to determine what property should be in your living trust. You might also have decided that you want your estate and the decisions you made about how to disperse it kept private. ![]() ![]() If you are reading our blog, you probably already decided that you want to create a living trust with an Anchorage will and trust lawyer to avoid probate and put a quick end to the estate administration process. ![]()
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