Jerry Taylor explains which assets go into a revocable or irrevocable trust and which stay out. Real estate, financial accounts, life insurance, and business interests typically go in. Retirement accounts and most vehicles usually stay out, though the rules vary by state.
What should you put in your trust and what should you keep out of your trust? Here's what goes in: real estate, financial accounts, life insurance, all your personal property, mineral rights, your business, LLCs, partnerships. These do not go in your trust: retirement accounts, probably your vehicles. All the things that are going in your trust are either going to be titled in the name of the trust, or you're going to name the account or the policy the beneficiary of your trust. You could also be assigning something to your trust like your LLC. The way you do these things differ from state to state, so see somebody like me. If you want my newsletter, click on my picture and
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