How do I get my property/assets out of a trust if I need them?

by Thomas D. Richards, Lawyer Referral Service Panelist

If you need to remove assets from a trust during your lifetime, you have the right to do that. You can deed any real estate back out by using a deed, and you can sell the assets or use them as collateral on a loan.  These assets in the trust still belong to you.  You have the right to do whatever you want with them during your lifetime.  If you wish to gift any of these assets out during your life you can certainly do so.  If you home is in the trust and you need to refinance it, you can do so.  If you have transferred a vehicle to the trust, you can simply sign the back of the vehicle title and transfer it out of the trust to whomever you wish.  You have the right to move your assets into and out of the trust as often as you like.  These assets are still yours, even though you have put them into your trust.  If you need to sell an asset, you may do that also.  If you just need to use it to get a loan, you may do so.  After you have completed the bank loan, you can transfer the asset back into the trust.  The trust protects the assets from Probate Court, so you want to keep them in the trust as much as possible.

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This entry was posted in Wills/Trusts/Other Probate and tagged , , , , , , .

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