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Transferring assets into your Living Trust

In order to complete your living trust and protect your assets, you will need to transfer the title of any assets you already have into your trust. Titled assets include: bank accounts, safe deposit boxes, public market brokerage accounts, private stock holdings, investment fund interests, vehicles, real estate, and businesses. For instructions on how to transfer your assets, see below.

Bank accounts, safe deposit boxes, and public market brokerage accounts:

You will need to contact the appropriate institutions and tell them you want to transfer your accounts into your living trust. In order to do this, they may ask for a copy of your trust which can be found in your Dynasty dashboard.

Startup stock

You will need to contact the stock administrator at the company who issued your shares and tell them that you want to transfer your stock into your living trust. In order to do this, they may ask for your trust details which can be found in your Dynasty dashboard.

Investment fund interests

You will need to contact the investment firm and tell them that you want to transfer your holdings into your living trust. In order to do this, they may ask for your trust details which can be found in your Dynasty dashboard.

Vehicles

Not all states allow vehicles to be titled in trust and some insurance carriers will also give you a hard time about it. If you want to see if it’s possible you will need to contact your local DMV and ask them for the right process. It’s also a good idea to get approval from your insurance carrier prior to doing so.

Real estate

To transfer your real estate into your trust, a new deed titled in the name of your trust must be signed, notarized, and sent to the appropriate county recorder’s office based on the location of your property. For more information, contact the county recorder for the property you want to transfer.

For assistance with any of this, please contact Dynasty. We are happy to help!

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What is a Trust?

A Living Trust is a financial tool that lets you plan, organize, and protect your life. It’s a personal entity that allows you to add assets and plan out your inheritance. Eliminating legal battles, cost, and time spent by your loved ones. 

Think of it like a personal LLC that you put everything you own in. Except it doesn’t protect you from liability like an LLC does, it protects you from probate and conservatorship. 

Probate is the complicated court process (12-18 months) where a judge decides what happens to your assets after you die, become incapacitated, or are “deemed” incapable. Creating a living trust allows your assets to completely circumvent probate and immediately transfer to your loved ones. 

In addition to being able to name heirs (your beneficiaries), a Trust also allows you to assign someone to manage it (your successor trustee). Instead of going through probate, your Successor Trustee takes control of the Trust, handles your affairs, and distributes your assets according to your instructions. The person you select as Successor Trustee should be your most trusted person. Like a best friend or closest family member.

At Dynasty, we believe everyone should have a Living Trust. If you have children, assets, or plan to acquire assets in the future, you should create a Trust. That way when you buy your next home, open a bank or brokerage account, get startup shares, etc. – you can immediately title them in your trust.