An affidavit of trust or memorandum of trust helps to keep your personal business just that -- personal -- during your lifetime as well. Funding a Revocable Living Trust Funding a revocable living trust involves moving ownership of your assets from your individual name into that of your name as trustee. You are a component of your trust as its trustee, so you no longer personally own the property. This is the mechanism by which revocable living trusts avoid probate.

Using an Affidavit or Memorandum of Trust When you approach a financial institution to direct that ownership of an asset held by you should be transferred into the trust -- and to you as trustee -- the institution will almost certainly want a copy of the trust agreement for its files. You may not want to hand over a copy of your trust agreement and leave it on record with the institution because it details all your assets and property and who it will eventually transfer to at your death. • Who created the trust and when • The name to be used for the trust • The fact that the trust is revocable and can be changed at any time • Who is named to serve as the initial trustee or trustees • Who is named to serve as the successor trustee or trustees to take over when the initial trustee dies or becomes incapacitated • What powers the trustee can exercise over the trust assets, and • Who signed the trust agreement Other Privacy Issues You may also want to fund your trust with real estate such as your home. L2full Lineage 2 Interlude Install Disc Iso. This will require preparing and recording a new deed transferring ownership from yourself as an individual to yourself as. Your state or county might also request a copy of your trust agreement for this purpose.

The affidavit or memorandum may also be recorded in place of your entire trust agreement in the public records of states or counties that require trust documents to be recorded along with the deeds that transfer the property. NOTE: State and local laws change frequently, and the above information may not reflect the most recent changes. Please consult with an attorney for current legal advice.