[quote=Noob]I own property outright, but want to transfer it to my family trust. I’m single and don’t have any dependants, but I want to avoid probate and use any assets I have after I die to fund family education grants.
What is the process for setting up a trust and transfering an asset into it. Is this something I can do myself without a lot of expense?
How do I get the name on the deed changed to the trust name?[/quote]
Even if you don’t use them for your trust, it is worth going to their free workshop. There is a sales pitch to sign up for the trust that night, but it isn’t high-pressure and there is much to learn.
4plexowner – there are many goood reasons to avoid probate other than taxes. Even the probate process costs money – they have to pay a probate attorney to manage the case – so avoiding it can save thousands even for small cases. Also, trusts execute immediately. Probate can drag on for years.
A trust – and associated documents such as a will, power of attorney, and other instructional documents – can help your family avoid major problems if you are ever declared incompetent.
If you are declared incompetent and you haven’t made it clear who should take over decisions for you, life can be hell for those you leave behind who may have to watch the government step in and manage your life.
There are so many reasons to go to one of those workshops.
