Do any title documents need to be filled out if the grantor and the trustee is the same person in a revocable living trust?

Asked over 1 year ago - Los Angeles, CA

I'm in the process of preparing a revocable living trust, where the grantors and the initial trustees are the same people. The home will be part of the trust, and the grantors/initial trustees are also the same people on the deed instrument. Does a new deed document need to be recorded anyhow?

Attorney answers (3)

  1. Mary Lynn Symons

    Contributor Level 13

    7

    Lawyers agree

    Answered . Yes, you need to execute and record a deed from yourself as grantors to yourself as trustees of the trust in order for the property to be an asset of the trust. If you do not do so, a probate (or possibly a different kind of court proceeding) would be required for the property to be treated as a trust asset following your death. Funding the trust (the transfer of assets to the trustees of the trust) is a key part of planning using a revocable trust.

    You should also transfer your other assets (other than retirement accounts) to the Trust. Assets that pass by beneficiary designation and assets that pass by operation of law (assets held in joint tenancy or pay on death accounts) will not be subject to probate. Other assets that remain in your individual name rather than the names of the Trustees, will be subject to probate.

    Please see an attorney if you have any questions about funding your trust.

    DISCLAIMER: THE INFORMATION PRESENTED HERE IS GENERAL IN NATURE. IT IS NOT INTENDED, NOR SHOULD IT BE CONSTRUED,... more
  2. Amanda Marie Cook

    Contributor Level 15

    6

    Lawyers agree

    Answered . Having an attorney advise you on the terms of your trust is ideal. Creating your trust incorrectly or failing to fund it may be more expensive than paying the attorney in the first place. Additionally, creating and recording deeds that are improperly prepared can create a cloud on title. Nevertheless, all assets should be titled as "NAMES, Trustees of the TRUST dated DATE."

    THESE COMMENTS ARE NOT LEGAL ADVICE. They are provided for informational purposes only. Actual legal advice can... more
  3. Joseph Franklin Pippen Jr.

    Pro

    Contributor Level 20

    1

    Lawyer agrees

    Answered . A quit claim deed needs to be completed to transfer any real estate to the trust.
    It is very important to "fund" the trust to avoid probate.

    The answer given does not imply that an attorney-client relationship has been established and your best course of... more

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