How do I transfer assets into a trust?

Transferring assets into a trust is an important step when creating a trust in Texas. Generally, assets should first be titled in the name of the trust. This process involves providing a copy of the trust document to the financial institution or other entity holding the asset (such as a brokerage, or department of motor vehicles). The trust document needs to be accompanied by a request to transfer the asset in the name of the trust. If the asset is held in a financial institution, all accounts held in the name of the grantor need to be re-titled in the name of the trust. Depending upon the type of asset, additional paperwork may need to be completed in order to transfer it into the trust. For example, if the asset is a motor vehicle, the original title needs to be signed over to the trust and sent to the DMV for re-titling. Transferring assets into a trust can be a complex process, and it is important to ensure that all necessary paperwork is completed correctly. It is also important to keep accurate records of all documents and transactions related to the transfer of the assets. If assets are not properly transferred into the trust, then the grantor retains ownership of those assets, which could cause issues down the line. Therefore, it is wise to work with an experienced estate planning attorney to ensure that all assets are properly transferred to the trust.

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