This Week's Topic: Title of Assets

Revocable Living Trusts (RLT) are designed to avoid probate and, if properly designed, to avoid death taxes as well. But the overwhelming reason for a RLT is to avoid probate, the judicial administration of an estate.

Accordingly, if you have a RLT be sure that all of your real estate and investment assets are vested in the trusts name, typically you and your spouse, if married, as trustees of the (your names) agrement dated .......(date that you signed the RLT).

No matter how many times we preach that and give clients written instructions and 3 by 5 cards that remind them, clients still die with trust assets not in the RLT, although our office will prepare the deeds and assignments of deeds of trusts and notes for the clients and get them recorded from them. The clients will purchase new assets and forget to do what is necessary to keep the new assets from going through probate.

And that is one major reason why you need a