Legal Question in Wills and Trusts in California
additions to trust
My husband and I have a trust. We have purchased a piece of rental propert and wish to add to trust. How do we do this. We do not need to redo trust just add some property to it.''Thanks you so much...all I have been getting is a run around. I just need to know what do we have to do to add something to an existing trust.
1 Answer from Attorneys
Re: additions to trust
The trust that you have is very much like a glass. You need to fill it in order to allow the assets that are within its two have the effect that the trust is intended to have. Therefore, when the trust was originally prepared I would hope that it was filled with the assets that you now own.. Personal property such as bank accounts are placed in the trust by having the title set forth in the names of the trustees on behalf of the name of the trust. Real property though is recorded. Therefore you now take the real property and rerecorded into the trustees names on behalf of the name of the trust. For example, Mr. and Mrs. Smith as community property grants to Mr. and Mrs. Smith the trustees of an on behalf of the Smith family trust out of 2000. It is very important that the wording is very specific granting the property from the original individuals as they held it to the trustees of the trust on behalf of the trust. If you need any help please contact me at 925 -- 945-6000.