Assets Should Be Placed in Scottrade Account # Form

Instructions and help about Assets Should Be Placed In Scottrade Account #

I am Attorney Thomas Burton and today's question is the following: “What Assets Should Be Placed in a Revocable Trust?” Great question. Let's start from the top, a revocable trust is what we often use as what we call a ‘Will Substitute’ and our goal is to avoid probate upon all assets, upon your death. So when I put a trust together, I like to use it as the main vehicle for all assets to flow through, instead of flowing through the Probate Court, where they incur probate court fees, time delay and expense. Basically, any type of asset you own, can be placed inside the revocable living trust. The only asset we generally do not place inside the trust is a ‘Qualified Retirement Plan Asset’ such as a 41k or IRA. Instead, the best method is to leave this first to a living person. So if you're married to a spouse or child and then we can name the trust as a contingent beneficiary upon death but it can cause tax problems by retitling the account because an individual retirement ac