Legal Question in Wills and Trusts in California

Revocable Living Trust set-up questions

I created a revocable living trust for my husband and me. Since our personal situation is simple, I thought it would be straight-forward. We hold a mortgage loan on our home, and I emailed them asking if we need to do anything with them to make our trust and they didn't reply so I assumed I didn't need to do anything special. I changed the name on the deed to ''the trust of (our names)'', and recorded it at the county. Now I read that the bank may require us to re-finance our home loan? Is that true? Also, I also read that we should change the name on our title insurance. How do we do that? Is that through our mortgage company, or do we do that through a title company?


Asked on 5/07/06, 11:10 pm

2 Answers from Attorneys
Ken Koenen Koenen & Tokunaga, P.C.

Re: Revocable Living Trust set-up questions

You should have changed the title to read "Your Names" as Trustee of the Your Names Trust. The bank may thingk that you moved the property to an irrevocable trust.

You will probably need some help to correct this.

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Answered on 5/08/06, 6:11 pm
Donald Field Donald L. Field, Jr., Attorney at Law

Re: Revocable Living Trust set-up questions

you will need to consult an estate planning attorney to unravel this problem.

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Answered on 5/10/06, 11:04 am


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