How to Transfer Tangible Personal Property

Since tangible personal property Property is defined in three ways: 1) real property, which is the land and buildings located on the land; 2) personal property, which is the property you have in your house such as the couches, beds, furniture and other items that you can see and touch; 3) intangible property, which is the property which cannot be see or held. This property is the stocks and bonds that you own, bank accounts, and insurance coverage. such as household furniture and furnishings, jewelry, etc., is without any recognized documentation of title, transferring property to the trust This is the document which you will be preparing to avoid estate taxes and probate. It has possession of your property, and a system for caring for the property, both before and after your death. is made by a bill of sale from the Grantor This is the person that puts his/her property into the trust to avoid estate taxes and probate. to the Trustee.  However, since this property changes constantly, the initial bill of sale should cover any and all tangible personal property now owned or hereafter acquired.  A bill of sale of this type should be sufficient evidence of the Grantor's intent to achieve the desired probate This is a court procedure which is used to re-title property after someone dies. A probate action determines who has the title to what property after you die. Probate is very costly and is to be avoided if possible. Probate can be avoided by properly preparing a living trust. avoidance, especially when the assignment is coupled with a Pour Over Will leaving everything to the trust.

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