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I get called upon to review many estate plans previously prepared by other attorneys. Other than some plans which are so ineptly prepared, the number one mistake I find is improper vesting of title so it will be an asset of the trust.
Here are a few guidelines to avoid this mistake:
1) The trust cannot hold title
2) Title should be in the name(s) of the trustee(s) of the trust pursuant to the terms of the trust.
3) The name(s) of the trustee(s) should be just as he/she/they are listed in the trust (full name, or middle initial, or …) and the name of the trust should be spelled out EXACTLY as it is set forth in the trust.
4) The deed and appropriate assessor forms must be sent to the Recorder.
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John T. Anderson, Section Chair
Certified Specialist in Probate, Trust and Estate Planning
By the California State Bar Board of Legal Specialization
Copyright © 2012 by John T. Anderson
All articles by John T. Anderson may be copied for personal use, only. All articles or outlines from others may be used only with their personal authorization. Any approval is for personal use, only, and for non-commercial purposes.
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