texas law - If a Trust is created, do you have to put the property in the trust?
822649
You have to deed the trust to the house. You may need to get permission from the mortgagee bank AND make sure that your TITLE INSURANCE policy still covers you: you probably need to get their written consent also, and perhaps pay them something.\n\nAlso: check on what effect the trust has on your HOMESTEAD RIGHTS in Texas, and on your property taxes.\n\nNormally when a trust deed is written, if it's not to be funded right away a small amount of money -- $1 will do -- is paid in.
568968
IT DEPENDS ON YOUR POSITION. IF YOUR A FAMILY MEMBER IT SHOULD BE FAIRLY EASY TO SPEAK WITH THE FAMILIES ATTORNEY AND GET THE INFORMATION. IF YOU DON'T HAVE A VESTED INTEREST IT MAY BE A LITTLE MORE CHALLENGING, THESE TRUSTS ARE RECORDED BUT AREN'T GENERALLY A MATTER OF PUBLIC RECORD. IT WOULD PROBABLY BE WISE TO DISCUSS W/AN ATTY. IF YOU HAVE A GENUINE NEED TO KNOW A JUDGE COULD GRANT A REQUEST TO PROVIDE INFORMATION TO YOU.
411354
anytime a court issues an order to you consider it like ur own little personal set of laws... if someone breaks one of the orders of the court then they can be charged with contempt of court...\n\nIn order for the trustee  to get in trouble significant paper work must exist document every little thing they do.. if u feel that ur trust is in danger u may need to hire an attorney to look into the mater for u
714629
Two issues. One is what the deeds say. The other is a concept called adverse possession.\n\nAdverse possession says that if you claim land for a long period of time (10-20 years), and actually use, then you get to keep it. It's more complicated than that in practice, but that's the idea.\n\nThe issue will get decided by a court. If you care about the seven feet, then you should consult with an attorney. She'll probably recommend filing what is called a "Quiet Title" action. That asks the court to settle any issues regarding property ownership.
273115
If you inherited it by will or because you were on the deed, you can. Otherwise, you can't. If you believe you are entitled to the land for some reason, you will have to bring a "quiet title" action in court.
123339
whomever you will it to or if you put it into a living trust you can designate somebody to be the beneficiary of the trust
96417
1. What Is a Living Trust?\n\nThe "living trust" described in this brochure is a revocable living trust. It is sometimes referred to as a revocable inter vivos trust, or a grantor trust. A living trust may be amended or revoked by the person creating it (commonly known as a "trustor," "grantor" or "settlor"), at any time during the trustor's lifetime, as long as the trustor is competent.\n\nA trust is a written legal agreement between the individual creating the trust and the person or institution named to manage the assets held in the trust (the "trustee.") In many cases, it is appropriate for you to be the initial trustee of your living trust, until management assistance is anticipated or required.\n\nIn a living trust agreement:\n\nThe trustee is given the legal right to manage and control the assets held in the trust. \nThe trust provides for the persons or charitable organizations ("beneficiaries") who are to receive the income and principal on or after the trustor's death. \nThe trustee is given guidance and certain powers and authority to manage and distribute the trust property in a prudent fashion. The trustee is a "fiduciary." A fiduciary is one who occupies a position of trust and confidence and is subject to strict responsibilities, usually higher standards of performance than one who is dealing with his or her own property. Without the trustor's express written permission, the trustee cannot use trust property for the trustee's own personal use, benefit or self-interest. One must hold the trust property solely for the benefit of the beneficiaries of the trust. \nA living trust can be an important part - in many cases, the most important part - of your estate plan. The State Bar has published a pamphlet entitled "Do I Need Estate Planning?" which provides more detailed information about estate planning. You may obtain a free copy of the pamphlet by sending a stamped, self-addressed envelope with your request to the address listed below.\n\n2. What Can a Living Trust Do for Me\n\nA living trust can provide for the private management of your assets if you choose not to act as trustee, or when you are unable to do so, by the person or persons whom you appoint as trustee. When you are incapacitated, your trustee can assume responsibility for your assets in an accountable fashion, and manage them for your benefit without direct court intervention or supervision. At your death, the trustee acts much as an executor would, gathering your assets, paying valid debts and claims and taxes, and distributing your assets as you have directed in your living trust.\n\n3. Should Everyone Have a Living Trust\n\nNo. The greater the risk of incapacity or death, the greater the need for a living trust. The greater the value of your assets, particularly if they include real estate, the greater the need for a living trust. A young, healthy individual with few assets probably does not need a living trust right now. Nor does the real estate developer who is frequently buying, selling or refinancing his or her real estate holdings want a living trust to hold those assets. On the other hand, many people recognize that a living trust will be helpful in the future, and set up a living trust now to have it in place in the event of an accident or sudden illness.\n\n4. How Does a Living Trust Help if I Am Incapacitated?\n\nIf you are acting as trustee of your own living trust and become incapacitated, whoever you have named as your successor trustee will assume the responsibility for managing your assets on your behalf. If your assets are not in your living trust, someone else must manage them. How this is accomplished may depend on whether the assets are your separate or community property. If you are married, assets earned by either you or your spouse while married and while a resident of California are community property. On the other hand, a married
948956
it can only be broken by death.  the trustee has all the power laid out in the trust. and yes he can spend your inheritance if he likes, but you should moniter him or her's actions. or have more than one trustee.
257097
If the living trust amendment was drawn up by a lawyer, that lawyer should have a copy of the original.\n\nA living trust can be registered at the courthouse, but it doesn't have to be.  You might go down to the courthouse and talk with them there.  If their records are all computerized, it might be easy to locate a copy of it using a computer search.
1116431
If the trustee of a trust gave someone power of attorney, then it is possible... as the power of attorney may have the right to act on the trustees behalf if the limitations allow it.  So my first advice would be to get your hands on the POA and read it.  POA is only voided if it is revoked or upon death of the trustee.
727318
Boy, I wish wasn't at my second home because the information I would like to give to you is back at my other house. Anyway I am a Realtor, small apartment owner, trying to retire.\n\nA couple of years ago I went to an excellent lecture on just what you are asking. For a minimal amount of money I purchased "awesome" material, forms, how to's etc and telephone help.\n\nIt was a lot of work but, simple enough.   They taught us how to put LLCs into Living Trusts and "on and on".\n\nIf I had to remember who they were today I would put "expert protection of assets Salt Lake City, Utah" into a search and see what comes up. I bet I could find them. Let me know.\n\nI just saw another answer and he is confused; you absolutely can put each building into an llc for that matter.
1180335
Work with your attorney.  Yes you have to give it to them, but the law specifies how large it has to be usually 15 or 20 feet and where it is located.  Doesn't have to be where most convenient, just has to be one.  This is assuming the property owner has no other means no matter how difficult to reach his property except by crossing your land.
206828
Hi, \n\nHere's a really great site I found that offers legal advice and helpful info on Living Trusts and Avoiding Probate.  http://www.nolo.com/resource.cfm/catID/9F594B71-B41B-4513-923BF19B4D9ACDAA/309/227/
475736
The part "trustees shall hold the trust fund on trust for X" is just lawyer talk for the following:\nTrustee gets money, trustee holds or invests money, and then trustee pays, over time, the interest on the money to or for X.  \nUsually a trust then states what happens to the money when X dies, or some other event (X reaches majority) occurs.  \nI have no idea what the two "absolutelys" are for.  I suspect the person who wrote this was not an attorney.
478184
No!\nThe I.R.S. would consider a trust that attempted to do that tax fraud. There used to be a company that set up trusts that claimed to make them immune from taxes but they arrested the people involved and all the others that had set up those trusts.\nYes! Setting up a trust can effectively make your assets immune from creditors and judgements IF you appoint someone other than yourself as the trustee. In other words, you cannot control the assets in the trust or they can be attached after a judgement. HOWEVER, it can make it a LOT more difficult to FIND your assets, unless of course you have to answer questions about all your assets in a deposition pertaining to a lawsuit against you.
798682
you can not put something that doesn't belong to you in a will. If he has a landlord then he cannot put it in a will. So the land lord has done nothing wrong.
1147158
quoting from the website:\nhttp://www.premack.com/columns/2004/2004-12-07.htm\n\n"Under Texas law, there are three ways that you can create a legally valid will. First, a spoken Will is authorized by a law dating to 1879. You cannot use a spoken will for more than $30 worth of personal items unless three witnesses hear the Will spoken. You cannot give away land using a spoken Will. These limits, and others, are why spoken Wills are not used today."\n\n"Second, a handwritten Will is valid under Texas law if it 1) is entirely in the handwriting of the Will’s maker, 2) contains the date on which it was written, and 3) is signed. Witnesses are not required. However, handwritten Wills are discouraged because while they may be legally valid, they may end up being more expensive to probate than a formal Will if they fail to allow independent probate and waive the executor’s bond."\n\n"Handwritten Wills can also be less reliable. For instance, if any part of the Will is not handwritten (is typed or preprinted) the Will is not valid. If words are used incorrectly, the Will’s meaning may be misinterpreted (the everyday use of a word may not match its legal use)."\n\n"Third, a formal Will is the most thorough choice. To be legally valid, a formal Will must be dated, signed, and be witnessed by two persons who are fourteen or older. To confirm the Will’s validity and eliminate the need for the witnesses to appear in court when the Will is probated, it should also have a specially worded self-proving affidavit. The self-proving affidavit must be signed by the Will’s maker, by the witnesses, and must be notarized. That results in two sets of signatures on each Will."