I set up a trust in Ca. by simply transfering ownership (by quitclaim) from me to the trust. Is it possible to do the same thing in Tx.?
State/Country relating to question: Texas
If it is a revocable trust, you are free to move assets in and out of the first trust into a successor trust in accordance with he terms of the trust agreements. Also if the property in trust is collateral for a loan then you need the permission of the lender to change title.
See this is the kind of legalspeak that the Ca law was created to avoid. Ca law actually says thatif a personTRYS to create atrust then, a trust IS created! Basically this law was made so the average guy (that can't afford to hire a lawyer) can also obtain the protections & advantages of a trust, that he would otherwise not be able to afford. This is the kind of trust I need. I haven't the knowledge or time to learn, about kinds/trusts
The trust created in California is not invalid simply because you move to Texas. There may be no need to create a new trust or transfer title.
So, how can I get aTx bank to let me establish an account for further transactions?
They will want to see a copy of the trust agreement. There is no way around it. You can get a form online for a simple revocable trust at a site like legalzoom.com.
It seems as if you are telling me, that I will in fact, need a new trust, as there was not any "agreement" for the ca trust. Is this what you are saying?
If you do not have an existing trust agreement then, yes, you will need one. As I said, you can get a simple form online.
Can you be more specfic as to which form, so I can proceed w/ the confidence that my childrens interests are protected or is it possible to get you to review my efforts within the scope of this forum? Barring that, what would you charge me for that service?
I would recommend a site such as legalzoom.com for a revocable trust. The nice thing about the revocable trust is that it can be undone if you change your mind or want to revise things.
Over 25 years experience in general legal matters.
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).