Tuesday, December 10, 2013

Fred Gets His Trust

“Now we have it!” Fred was flushed with success as he left his lawyer’s office.  “We are now Trustees, Beneficiaries and Grantors of the Flintstone Family Trust.” 

“Not so fast, Fred. Right now our Trust only has our household furniture, appliances and gardening equipment in it,” Wilma reminded him.  “We can’t exactly say that is worth getting very high and mighty about yet.”

Two weeks later, Fred wonders why he must fill out yet another form for his Trust.  “It sure does take a lot of work to be Grantor of our Trust,” he complains.  “It seems I’ve been signing letters and filling out transfer forms practically every night.”

 “That’s the price of owning so many different things,” Wilma points out.  “But it’s really important that each asset we have be formally transferred into our Trust, and it will be over pretty soon.”

“Yes, after all, from now on,” Fred agreed, “we will be able to put our stuff into the Trust right away and not have to ask for any changes to transfer it later.”

For advice about whether a Living Trust suits your needs and how to transfer all your assets into it properly, call our office at (815) 436-1996 for an appointment.

©2013 Gruber Law Office, Ltd.


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