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Ray
Ray, Lawyer
Category: Real Estate Law
Satisfied Customers: 38854
Experience:  Texas Attorney for 30 years dealing in real estate
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WHAT DO I NEED TO DO TO GET AN ASSET TRUST OUT OF ONE NAME

Customer Question

WHAT DO I NEED TO DO TO GET AN ASSET TRUST OUT OF ONE NAME AND INTO ANOTHER AND WHAT IS THE COST TO DO SO
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Ray replied 1 year ago.

Hi and welcome to JA. Ray here to help you today.

You will need a new trust and to then transfer any assets to the new trust.If these are houses then by fiduciary deed from trustee of old trust, funds the trustee here transfers them from old trust to new trust.

You would need a second new trust here and then transfer the assets from old one to new one either by deed or transfer of names on the accounts. If the trust has income you would need a new EIN number for the second new trust once you have set it up.

Thanks again for the chance to help today.

Expert:  Ray replied 1 year ago.

You would need a local trust lawyer to prepare the new trust and transfer documents such as deeds if real proeprty in involved here.

Thanks again.

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