How is property put into a Trust?

Upon the creation of a Trust, property can be specifically added to the Trust. Also, when property is acquired, it can be put in the name of the Trust. For example, if you buy real property, you would need to have the property titled in the Trust’s name upon purchase. The same goes with a car or boat or anything that is titled. A Trust can be funded with a life insurance policy. This type of Trust is called an ILIT or irrevocable life insurance trust.

Overall, there are a multitude of issues with regards to Wills, Trusts and Advanced Directives, and to make sure that you are doing everything you can during your lifetime to prepare for what will happen after you have passed, contact a Conroe estate planning lawyer at Garg & Associates today to get this process started and to protect the future of those you love.

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