Mobile Notary Public @ Your Home, Office, Hospital, Assisted Living Home, 24 Hour Traveling Notary in DC and Maryland
DMV Notary Mobile travels to your home, office or any location in DC or Maryland you’d like to have your documents notarized. We’re available 24 Hours by calling or texting (202) 826-8179.
Need a Notary for a Trust Document? A Trust can be very essential in our daily lives. It’s one of the widely used tools in estate planning. It’s one of the best ways to ensure that your will or wishes that you created are followed as per your expectation after your dismissal. Living trusts will ensure that your assets are distributed very fast without any tensions, privacy of your financial affairs and elimination of unnecessary taxes. Trust can be defined as the relationship of owning a property on behalf of another person. It can be established through a single document though there are quite a number of different types of documents to be used. Declaration establishes whole ownership in trust for another party.
When writing a trust in DC or Maryland, the grantor or the person writing it have full ownership of the trust property until that day when he/she will be laid to rest. After the grantor’s death, the person who was chosen by the grantor takes over and executes the wishes of the deceased. One of the greatest benefits of trust is that the properties in question are distributed or transferred without incurring any cost. A trust agreement takes care of parameters of the relationships. It also stipulates when and how the grantor can revoke or amend the trust.
There are two main types of trust; revocable living trust and irrevocable living trust. In revocable, the terms can be altered any time while in irrevocable the terms remain as they are. Thanks to the online platforms, now you can check for the guideline online on how to write a trust and do it in a few minutes. The first thing to do before writing a trust is to list all your assets, this doesn’t mean you have to include all your properties into your trust but listing them will help you figure out how to do it perfectly. You can start with those that might otherwise go through probate.
Gather all the relevant paperwork like the stock certificates, title deeds of the property and life insurance policy in order to transfer the property of your choice into trust. Make sure the properties you’re putting in trust are solely yours and have full ownership. For the jointly owned property for instance those who are in domestic partnership or are married must draw up shared trust.
Choose your beneficiaries’ and name them in your trust. These beneficiaries could be family members, friends or close relatives or organizations. Naming your beneficiaries here should not be confused with naming them on your retirement savings accounts or insurance policies, these are two different processes.
Choose a successor and share with them if they’re willing to take up the responsibility. They should be people whom you fully trust; they could also be part of the beneficiaries. They should be able to manage your affairs in case you become incapacitated. In case the person of your choice is still a minor, you can look for someone who would take care of the property until the minor matures to your desired age. After preparing the trust, sign and notarize it though you may only need witnesses, notarization is very essential. Store the living trust into a safe place and you keep it up to date.