What kind of property goes into a trust?

by Thomas D. Richards, Lawyer Referral Service Panelist

This question is addressed assuming we are preparing a simple Living Trust. You don’t have to be a millionaire to need a trust. If you own a home you likely will want to put it into a trust. Most people’s largest and most valuable assets are their real estate holdings, which includes their home. Since real estate usually causes the most problems in Probate Court, it usually becomes the focus and purpose of the trust in the typical situation. As such, real estate assets would be the first assets we would look at transferring into the trust of the people we are advising. Other types of assets to consider for a trust include the following: motor vehicles, bank accounts, boats, stock accounts, money market accounts, mutual funds, bonds, farm equipment, business interests, LLC, savings, certificates of deposit, checking, artwork, coin collections, antiques, jewelry, all contents of the home, mineral and mining interests, and others.

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