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Richard
Richard, Attorney
Category: Legal
Satisfied Customers: 54997
Experience:  Attorney with 29 years of experience.
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My mom has a living trust but it doesn't include her address

Customer Question

My mom has a living trust but it doesn't include her address or will included. She has a will but it was made 10 years before she made the trust and the property in the will she doesn't own any more. I'm wondering how to update them so they are accurate.
Submitted: 1 year ago.
Category: Legal
Expert:  Richard replied 1 year ago.

Good afternoon. The living trust is set up to avoid having to probate the will. So, the idea is to transfer all her assets that do not pass automatically at death to the will during her life so that at her death, there are no probate assets and thus there is no need to probate the will. It's important to realize that certain assets don't need to be transferred to the trust because they pass outside probate and thus are not governed by the will and thus do not require probate. These include the following: i) joint brokerage and bank accounts which vest automatically in the surviving owner upon the death of one owner; ii) real property held as joint tenants or tenants by the entirety, which also vest automatically in the surviving owner upon the death of one owner; and iii) assets with designated beneficiaries other than the estate such as life insurance and retirement accounts. So, what you need to do is to make sure her assets either fall within one of the foregoing categories are are transferred to her trust. The fact that the trust does not include her address will not invalidate the trust.

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