Betty has only one child,Michael.Upon her death,she is planning on leaving all her assets to him by creating a living trust.What is needed to ensure that the distribution of property goes to Michael?

Question

Quizplus · Accepted Answer

To ensure that the distribution of property goes to Michael, Betty should transfer title of the property to the trust. This will ensure that the property is held by the trust and can then be distributed according to the terms of the trust, which could be designed to benefit Michael. Creating another "after death" trust or having multiple wills may add unnecessary complexity to the estate plan. A living trust can function as a standalone estate planning document, and can be used in conjunction with a will for added protection. Transferring title of property to the trustee will also accomplish the same goal as transferring title to the trust.

Betty Has Only One Child,Michael