A Trust created by TrustOnTitle can hold the property of one or two people.

A trust holding one person's property can be changed at any point during that person's lifetime.

A trust holding the property of two people can be changed at any point while both people are living.

You may choose to either (1) allow changes to be made to the entire trust after one of you has passed away or (2) to create two trusts when one of you passes away -- one holding the deceased person's property and the other holding the living person's property. Then the living person could only change the trust holding his or her property. You will be given the opportunity to choose the type of trust later in the questionnaire.

Both versions of TrustOnTitle's two person trust allow the surviving grantors to minimize the payment of state and/or federal estate taxes, when applicable.

A TrustOnTitle Living Trust can hold the property of one or two people.

A trust holding one person's property can be changed at any point during that person's lifetime.

A trust holding the property of two people can be changed at any point while both people are living.

You may choose to either (1) allow changes to be made to the entire trust after one of you has passed away or (2) to create two trusts when one of you passes away -- one holding the deceased person's property and the other holding the living person's property. Then the living person could only change the trust holding his or her property. You will be given the opportunity to choose the type of trust later in the questionnaire.

Both versions of TrustOnTitle's two person trust allow the surviving grantors to minimize the payment of state and/or federal estate taxes, when applicable.

If you select "Me and my spouse" the questionnaire will include questions and options for both you and your spouse.

If you choose "Me and another person" (e.g. family member, domestic partner, etc.), the questionnaire will include questions for both you and the other person putting property in the trust. This person will be called a Co-Grantor.

Some people use a name in their everyday life other than their legal name. For example, some people use their middle name in place of their first name. Others use a nickname instead of their first name, like "Jack" instead of "John."

If you are known by a name other than your legal name, please enter that name and your last name in the space provided.

Do I need to list all my children?
Yes. This section is meant to identify all your children. The decision of who will receive your property upon your passing is made in the Gift section later in the questionnaire.

What if I have children in the future?
Even though you can't identify them now, if you have children in the future and do not revise your trust to include them, these children will be entitled to a share of your property in accordance with state law.

Some people use a name in their everyday life other than their legal name. For example, some people use their middle name in place of their first name. Others use a nickname instead of their first name, like "Jack" instead of "John."

If your co-grantor is known by a name other than his or her legal name, please enter that name and his or her last name in the space provided.

Financial Accounts
Checking Accounts are typically not held in a living trust because they often have a relatively low balance and are therefore easily transferable upon death.

Printed Stock or Bond Certificates
A publicly owned company's shares are offered to the public and traded on a U.S. stock exchange. By contrast, a closely held company is privately owned, generally by the people who created and/ or invested in the company.

Business Interests
A closely held company is privately owned, generally by the people who created and or invested in the company. By contrast, a publicly owned company's shares are offered to the public and traded on a U.S. stock exchange.

Retirement Account Proceeds
IRA and 401(k) accounts may not be owned by the trust. However, the trust may be a beneficiary. The beneficiaries for IRA or 401(k) accounts are designated in the records of the account. To name the trust as the beneficiary of the account, obtain the necessary forms from the financial institution managing the account. Distributing IRA, 401(k), and other retirement accounts to your trust can have income tax consequences, and you may want to consult with an accountant before changing any account beneficiaries.

Personal Property
In some states, personal property can also include digital assets or electronic files stored in computers, laptops, mobile devices, or online accounts. This can include photographs, images, videos, music, and documents, among other items.

To transfer real estate into a living trust, a deed to the property naming the trust as the property owner must be prepared and filed.

Preparing and filing a real estate deed can be time-consuming and expensive. We make it easier than ever to complete these steps. Our trusted partner will:

• Research to determine the precise legal description of your property (map, block and lot number) and method of holding title
• Prepare your new deed and arrange for an attorney to review it if required
• File the deed with the County Recorder's Office

If you would like TrustOnTitle to prepare the transfer deed, there is an additional fee which varies depending on the location of the property. Please see the fee schedule below. The service fee includes the preparation of the deed, recording of the deed with the county where the property is located, county fees, and research fees for one property transfer.

+ In Alabama, a Deed Transfer Tax at the rate of $0.50 per $500 of value based on the County Assessor's valuation of the property must be paid at the time of transfer. This tax is not included in the price.

++ For a small percentage of properties in Florida, a Documentary Stamp Tax is required at a rate of $0.70 per $100 owed on any existing mortgage. You may be required to pay the Documentary Stamp Tax if your transfer is not exempt. We will contact you if additional fees are required.

+++ For properties located in the city of New Orleans, if you would like to prepare a Warranty Deed, please add $325 for the transfer tax.

++++ For non-residential properties located in New York, an additional $125 recording fee applies. This fee is not included in the price.

+++++ For non-exempt property transfers in Washington County, Oregon, a transfer tax is required at a rate of $1.00 per $1,000 of assessed value. You may be required to pay the transfer tax if the property transfer is not exempt. We will contact you if additional fees are required.

++++++ For properties located in Philadelphia, an additional county recording fee of $252 applies. This fee is not included in the price. We will contact you to collect the additional recording fee.

+++++++ TrustOnTitle does not offer quitclaim deeds for properties located in Texas and Virginia. Instead, warranty deeds are available.

Checking Accounts are typically not held in a living trust because they often have a relatively low balance and are therefore easily transferable upon death.

This section covers any ownership interests in a closely held, small business.

If you have a stock certificate in a publicly held company, that stock should be listed in the stocks and bonds section.

Life insurance proceeds are also distributed to the designated beneficiary of the policy. The required forms to name the trust as the policy beneficiary can be obtained from your insurance company.

IRA and 401(k) accounts may not be owned by the trust. However, the trust may be a beneficiary. The beneficiaries for IRA or 401(k) accounts are designated in the records of the account. To name the trust as the beneficiary of the account, obtain the necessary forms from the financial institution managing the account. Distributing IRA, 401(k), and other retirement accounts to your trust can have income tax consequences, and you may want to consult with an accountant before changing any account beneficiaries.

In some states, personal property can also include digital assets or electronic files stored in computers, laptops, mobile devices, or online accounts. This can include photographs, images, videos, music, and documents, among other items.

What if I have children born or adopted after I make the trust?

These children will receive shares equal to those of your other children.

What if I survive one of my children? What happens to his or her share?

That child's share would be divided among his or her children. If he or she has no children, that share will be added to the shares of your other children.

To view a sample Living Trust, including language pertinent to this choice, click here.

Why do you ask me to enter percentages?

After any expenses, taxes, and specific or charitable gifts are distributed, the value of the remaining trust property is established. This is the value that will be distributed to your friends and family according to the percentages you list here.

Why do you ask me to enter percentages?

After any expenses, taxes, and specific or charitable gifts are distributed, the value of the remaining trust property is established. This is the value that will be distributed to your friends and family according to the percentages you list here.

To view a sample Living Trust with a subtrust provision, click here.

The trustee of the pet trust does not have to be the same person as the successor trustee of the general trust you are creating. The person you choose will be in charge of the physical custody of your pets (caretaker role) and will also be required to use the funds you allocate to the pet trust for the lifetime benefit of your pets (trustee role).

The trustee you choose has the discretion to use the funds for your pets as he/she sees fit and to allocate the funds among multiple pets. Any amounts that are not used during your pet’s lifetime will be distributed to the general gift beneficiaries you named earlier.

Please note that if you sign a pour-over Will, the pour-over Will supersedes all prior Wills.

If you appoint a co-trustee, and, in the future, one of you can't serve as co-trustee, the other co-trustee will manage the trust alone.

If you appoint a co-trustee, and, in the future, one of you can't serve as co-trustee, the other co-trustee will manage the trust alone.

Trusts that hold the property of two people are managed by both people as co-trustees. When one of the co-trustees is unable to serve, either because of incapacity or death, the other co-trustee serves alone. Once both initial trustees are unable to serve, the people you identify here will serve as successor trustees.

Generally, a minor child's other parent is nominated as guardian. If someone else is nominated as the first choice, the court will consider desire as well as the other parent's parental rights and the child's best interests. For example, in cases of remarriage when the current spouse (who did not legally adopt the child and is not the natural parent of the child) is to be the guardian, detailed reasons should be provided for why the current spouse is best for the child. This can be done in the Special Directives Clause, which appears later in this questionnaire.

What if I want to name co-guardians to serve at the same time?

You can do so in the Additional Instructions for your executor later in the questionnaire.

Please note that your instructions may be subject to court review and approval. Therefore, the court may not enforce some or all of these instructions.

This question allows you to add instructions for your Trustee not already provided in this questionnaire. Examples of additional instructions include:

• Naming co-trustees
• Disinheriting a family member

Please note that your instructions may be subject to court review and approval. Therefore, the court may not enforce some or all of these instructions.

You can enter any additional instructions you want to include in your trust regarding the management or distribution of the trust. Any instructions you add will appear in the trust exactly as they are written here.

• Naming co-guardians for your minor children
• Naming co-executors
• Disinheriting a family member

Please note that your instructions may be subject to court review and approval. Therefore, the court may not enforce some or all of these instructions.

Please note that you cannot have more than one trust with the same name.

In general, a revocable trust's name includes some reference to the last name of the grantor or grantors.