Maryland Revocable Living Trust Attorney: What Assets Can Be Included in, or Transferred to, a Revocable Living Trust?

If you have created a Revocable Living Trust, to plan for mental disability and avoid probate, among other benefits, you still have the additional step of funding the Trust. Knowing what assets can be included is the next step in the process but deciding what assets should be included is just as important. For a free, confidential conversation to learn the benefits and limitations of a Revocable Living Trust, the consequences of including certain assets in a Trust, and if a Trust or other estate planning options would be best for you and your family, contact Maryland estate planning attorney Stephen J. Reichert at 410-299-4959, sreichert@reichertlegal.com or by clicking here.

Real estate can be transferred into a Revocable Living Trust thought it requires the recordation of a new deed in the county where the property is located.

Stocks and bonds held in certificate form can be transferred into a Revocable Living Trust though the original certificate must be returned to the stock transfer agent in exchange for a new certificate. The certificates could also be deposited into a brokerage account that’s titled in the name of your Revocable Living Trust.

Cash, including checking, savings, money markets and CDs, can be transferred into a Revocable Living Trust, though you should learn if doing so constitutes and early withdrawal of funds.

Life insurance can be transferred into a Revocable Living Trust, though you need to know if your policy qualifies for transfer before doing so.

Non-retirement investment and brokerage accounts can be transferred into a Revocable Living Trust though be cautious of accounts that require a change of title—such as 401(k), 403(b), IRA, or qualified annuities—as this will result in negative income tax consequences.

Nonqualified annuities can be retitled into the name of your Revocable Living Trust.

Money or some assets owed to you, such as personal loans you have made to others, can be added to your Revocable Living Trust.

Most personal property can be transferred into a Revocable Living Trust. This includes things such as computers, jewelry, antiques, collectibles, art work and pets.

Mineral, gas and oil rights can be included in a Revocable Living Trust though this may require a new deed or assignment.

Business interests in a closely held corporation, partnership and limited liability may be eligible for inclusion in a Revocable Living Trust.

Patents, royalties, copyrights and trademarks may be eligible for inclusion in a Revocable Living Trust.

For a free, confidential conversation to discuss these and other estate planning matters, contact Maryland estate planning attorney Stephen J. Reichert at 410-299-4959, sreichert@reichertlegal.com or by clicking here.

Mr. Reichert personally serves clients, either in-office or at your residence, throughout most of Maryland including Baltimore, Baltimore County, Anne Arundel County, Howard County, Carroll County, Harford County, Frederick County, Montgomery County, Washington County, Cecil County, Calvert County, Prince George’s County, Kent County, Queen Anne’s County and Talbot County.