Transfer Your Assets
Many people hire lawyers to draft revocable living trusts for their family with the idea that they will avoid probate upon death. The client’s ability to avoid probate, however, is predicated on the idea that their assets will be transferred into the name of the revocable trust. Typically, lawyers will draft any real estate deeds into the name of the revocable trust for their clients. However, the clients themselves usually will be responsible for transferring the remainder of their assets into the trust. Such assets could include vehicle titles, bank accounts and some beneficiary designations. If the client dies and does not transfer these assets into the name of the revocable trust, it is likely that a probate will be required in order to distribute their assets. Consequently, it is of utmost importance to make sure that all of your assets are titled into the name of the revocable trust in order to make sure your beneficiaries receive those assets through your trust. To help you with these matters, call Pruitt Law Offices S.C. at 262-633-8301 for a free consultation. Our office is located at 731 Main Street. We are your partners for professional service.