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Disadvantages of Trust Funds Costs: Setting up and maintaining a trust can be expensive. Loss of Control: Some trusts mean giving up control over your assets. Time and Compliance: Maintaining a trust requires time and adhering to legal requirements. Tax Implications: Trusts can sometimes face higher income tax rates.
To transfer real property into your Trust, a new deed reflecting the name of the Trust must be executed, notarized and recorded with the County Recorder in the County where the property is located. Care must be taken that the exact legal description in the existing deed appears on the new deed.
Trust is preferable over a Will because the assets that are in the Trust are non-public assets. Example: If you take your house and you transfer it into the Trust and your parents passed away, then you dont have to open an estate to transfer the asset, and it remains confidential.
General assignment of assets to a trust is a legal process in which an individual transfers ownership of their property to a trust they have established.
Selecting the wrong trustee is easily the biggest blunder parents can make when setting up a trust fund. As estate planning attorneys, weve seen first-hand how this critical error undermines so many parents good intentions.
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Lack of Court Supervision Bypassing probate is a key advantage of trusts, but it comes with the downside of limited court supervision. In probate, the court ensures that assets are distributed ing to the will, providing oversight. With a trust, there is no automatic judicial review.

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