• FreeAdvice has a new Terms of Service and Privacy Policy, effective May 25, 2018.
    By continuing to use this site, you are consenting to our Terms of Service and use of cookies.

Do I need to file a trust anywhere?

Accident - Bankruptcy - Criminal Law / DUI - Business - Consumer - Employment - Family - Immigration - Real Estate - Tax - Traffic - Wills   Please click a topic or scroll down for more.

T

tomverna

Guest
What is the name of your state? California. Do I need to file a trust anywhere, for example, with the county? Also, how should I hold title in my home, brokerage accounts, 401(k) etc.? Do I hold title in my name or the name of the trust? THANK YOU!!
 


vrzirn

Senior Member
Unless you actually fund the Trust you will not be able to take advantage of the tax saving provisions it affords. So you put all your assets into the Trust and you are the trustor.
You file first and last pages of the Trust with your broker, your bank and anywhere else you have money in the name of the Trust. You move all real estate into the Trust and file it with the County Recorder. Keep a small checking account out of the Trust because it will get too complicated when you want to pay bills for utilities, credit cards, etc.
If you are single you have now sheltered 1 mill in assets. Taxes are due on the balance upon your death. If you live exactly 10 years your estate will pay no taxes. After that, who knows.
 

Find the Right Lawyer for Your Legal Issue!

Fast, Free, and Confidential
data-ad-format="auto">
Top