Question 1

How to transfer real property into the Trust

Accepted Answer

1. Draft a Grant Deed. See a sample Grant Deed here.
 
2. Complete a Preliminary Change of Ownership Report for your County. Google PCOR and the name of your county, e.g., "PCOR San Francisco" or "PCOR Contra Costa" to download the form. Fill out the information at the top. For Part 1, select "This is a transfer of property to/from a  revocable trust that may be revoked by the transferor and is for the benefit of the transferor" (generally K1). For Part 2 under B select "Other" and type in "Revocable Living Trust" and under C select No. Skip Part 3 and for Part 4, under A select the type of property transferred. Then complete and sign the certification. See a sample PCOR here.
 
3. Complete a Transfer Tax Affidavit for your County. Google Transfer Tax Affidavit and the name of your county, e.g., "Transfer Tax Affidavit San Francisco" or "Transfer Tax Affidavit Contra Costa" to download the form. Fill out the form. If there is a a selection that this is a transfer involving a legal entity/trust in which the proportional ownership itnerest remains the same before and after the transfer, select Yes. If there is no such selection, if there is a selection that asks whether you contend that no transfer tax is due, select Yes and write "Revenue and Taxation Code § 11930 – transfer to revocable trust for benefit of husband and wife" as the reason. See a sample Transfer Tax Affidavit here.
 
4. File the Grant Deed along with the Preliminary Change of Ownership Report and Transfer Tax Affidavit. The cost is around $100, $75 to record a document afffect real property, $10-$20 to record the first page of the Grant Deed, and $1-$5 to record subsequent pages (including the notary acknowledgements).  Each county's prices are different, but it should be around $100 per transfer.
 
We can assist you in transferring real property into the Trust for $350 per property.  This includes the approximate $100 that needs to be paid to the Recorder.

Question 2

How to draft a Letter of Instructions

Accepted Answer

Download a Letter of Instructions template here.

Question 3

How to create and/or update the Transfer of Assets Schedule

Accepted Answer

Coming soon.

Question 4

How to amend the Trust

Accepted Answer

Coming soon.  For now, contact us.

How To

How to transfer real property into the Trust

How to draft a Letter of Instructions

How to create and/or update the Transfer of Assets Schedule

How to amend the Trust