If we pay a lawyer to make a living trust, which is not cheap, do we pay for any changes of property? We will probably down size as we get older and also buy different vehicles. Can we change the trust by having a different vehicle title or home deed?
You never change the trust and therefore never need a lawyer. What you are doing is titling whatever you buy in the name of the trust and it is automatically owned by the trust and the trust automatically governs the asset. For instance when you buy a car, the car should be in the name of your trust. If you sell your home you take the proceeds and put them in the bank account in the name of your trust and use that money to buy the new home which will you will put in the name of the trust as well
This comment does not create an attorney-client relationship. The law and its application by the courts is constantly evolving and changing. This discussion is not to be taken as a definitive guide, and should not be relied upon to determine all fact situations. Each set of facts must be examined separately with the current case and statutory law analyzed and applied accordingly.
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