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Items that can be included in a trust

Creating a trust is one of the most important things you can do in life. It helps protect your assets and your loved ones and ensures that things are handled the way you want upon your death. If you are ready to create a trust, you need to know what items can be included in the trust so you do it correctly the first time.

All of your cash accounts can be included in a trust. These accounts include checking, savings, CDs and money markets. The accounts will need to be retitled to hold the name of the trust in order for it to be legal.

Any tangible personal property you have can be added to a trust. This property can include your jewelry, computers, books, collections, clothing and more. You can also include your vehicles, furniture, boat, firearms, tools, photos and even your pets.

The life insurance policy currently in your name can be retitled and added to the trust too. This is a smart move because the person in charge of the trust, the trustee, will be able to handle the policy and borrow against it should you need money to help with medical care.

You can also include real estate in the trust. You will need to have the deed recorded again with the trust's name on it in the municipality where the real estate is located.

The creation of a trust is a smart idea for many people living in the Los Gatos area. Make sure you only include items that are legally allowed in a trust so you don't have to make corrections at a later date.

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