![]() ![]() Securities and Exchange Commission as an investment adviser. SmartAsset Advisors, LLC ("SmartAsset"), a wholly owned subsidiary of Financial Insight Technology, is registered with the U.S. This requires some paperwork, but an attorney can likely help you. Otherwise, the trust will be empty when it’s passed on to your successor trustee. This is known as “funding the trust” and is crucial to do. You must complete this step in the presence of a notary public registered in the state of California. Otherwise, you’ll want to get the help of either a lawyer or a financial advisor. If you’re confident in your abilities, you can download a program online to help you write a document. There is no single form that you have to use in California to do this, but there are some options. ![]() The trustee or successor trustee is responsible for ensuring that assets go to the beneficiaries as the trust directs. You should also choose beneficiaries, which are the people or organizations who will inherit the property in the trust. ![]() If you name yourself as trustee, make sure to name a successor trustee to take over after you die or in the event, you become incapacitated and can no longer oversee your own affairs. The trustee manages the assets in the trust. A joint trust will allow you to include property that each spouse owns separately as well as joint property. If you’re married, you’ll first need to decide whether you want a single or joint trust. ![]()
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