topic | executing a living trust

Step 2: identify property held in trust

Understand which assets are included in the Trust.  Only property owned in the name of the Trust is subject to its terms. A list of assets should be included in the schedules located at the end of a Trust document.

Compare household property listed on the Trust schedule to assets listed in Personal Property .  Non-schedule items are subject to probate. Items may include things like furniture, books, electronics, clothing, or jewelry.

Examine title documents. Property that has formal title of ownership (e.g. house, car, boat, stocks, bonds, bank accounts, etc.) should have been re-titled in the name of the Trust. Vehicles may be used as a tool to confirm that all titles have been examined and are held in the name of the Trust. Property not re-titled in the name of the Trust, is subject to probate.





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