The ownership of your property is transferred to the trust . You will act as the trustee. You’ll need to change the title deed in order to establish that the land is to your trust.
Keep Your Will in a Safe Place
This is the last step in our guide to making the trust and living will. Like any other important document, you should place the will in a secure location. This could be in the bank, in a reputable attorney’s bureau, a safe safe, or a safe deposit box.
Documents , such as titles intellectual property, passwords, as well as life insurance policy papers should be included in your will. This will make it easier for the executor to identify all documents important to you that you’ve left behind. Let someone who you trust, like the successor to your estate, access the documents and allow them access.
Be sure to keep your Will Current The Date
Your will must be reviewed every time you go through a major life moment such as getting married and having a child born or buying a home, divorce, boat auction, moving into an entirely new location or death of a person involved.
Most people avoid estate planning until it is too tardy. In the eyes of many, living wills and trust are for wealthy individuals, or they are just too complicated. A majority of people don’t want to have any conversation or considered death. Yet, as shown in this tutorial on how to draft a living will and trust it’s not just meant for the wealthiest. Also, it’s not all about death. A living trust can give you the power to decide the way your assets are distributed during your lifetime and after you’re gone.