Posted by Geo-TH,In on February 10, 2015 at 12:32:25 from (184.16.165.4):
JohnT, How is the Florida sunshine?
I have a question about Revocable living trust and Trustee deed.
Farmer in Indiana sets up a Revocable living trust in 2003. It was done by the book, lawyer, recorded.
A year before the Farmer dies, a change to the real estate was made at the recorders office showing a change in ownership to a Trustee deed, which I'm thinking may commonly be called a Living trust. Where after death, the other person on the deed is shown as the owner with a death certificate, no probate. So far, am I right?
It clearly states in the Rev living trust, the owner who is also the trustee of the Rev living trust may, at any time, make changes in part or in whole to the Rev Living trust. However it must go through the same process, a lawyer must do the paper work, signed, notarized, recorded. Does this seem right so far? Can the owner, the trustee of his trust, short cut the process, not use a lawyer, then set up a trustee deed on property?
Then scribble out a will, not drawn up by a lawyer, giving all the cash assets to just one person.
There is no mention of the Farmers tractors, equipment, anything, in the will or rev living turst.
Basically, can the trustee, while alive, ignore his own rev living trust without the aid of a lawyer?
I have encouraged the other family members to see a lawyer, which they will shortly.
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