Legal Question in Wills and Trusts in Nevada
Property title for living trust
Do house, cars, investments, need to be titled in name of living trust or can they simply be listed as assets in the document?
2 Answers from Attorneys
Re: Property title for living trust
Investments and house should be transferred to the living trust name.
Re: Property title for living trust
Most people do not put cars in the living trust. You can to a transfer on death with DMV and some insurance companies may try to charge you a commercial rate. A house should definitely go into a living trust. Retirement benefits are usually already payable to a beneficiary and need not be in the living trust. Nonretirement benefits should be titled in the living trust. I do not recommend putting the normal checking account in the living trust but doing a transfer on death account. A money market checking account and savings account should be in a living trust account.