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Buying and Selling Assets in the Living Trust During Your Lifetime

21 September 2017 No Comment

Having a living trust does not affect your ability to buy and sell assets. The only change necessary is that, when you buy a titled asset (e.g. a car, home, boat), title should be in your name as trustee instead of in your personal name. Assets titled in the name of the trust then are considered a trust asset and will be distributed according to the terms of your trust. If you do not want an asset any longer, you are free to sell it or give it away. The point is, your control over the assets is not restricted in any way. You do not have to consult an attorney to buy or sell an asset.

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