Revocable Living Trusts in Alexandria

Start with ownership, not just the trust document

A revocable living trust names a trustee to manage property held in the trust and can identify a successor trustee. But signing the document alone does not establish that every asset is owned by the trust. Make an asset-by-asset plan for what should be transferred, what should remain outside the trust, and how each item will be coordinated with the rest of your estate plan.

For each asset, record its current owner as shown on the relevant title or account information, whether it is intended for the trust, and what follow-up is needed. Treat beneficiary designations and jointly owned property as separate coordination questions; do not assume a trust document changes them. A will, including a pour-over will, has a different role from the trust and does not itself show that an asset has been transferred.

IRS guidance describes a revocable living trust as a written arrangement created during life that can be changed or ended during the individual’s life. The agreement, the person responsible for trust management and the assets actually coordinated with it are separate parts of the planning work.

• List real estate, financial accounts, business interests, and other significant property.
• For each item, note the current ownership, any named beneficiary, the intended arrangement, and the document or institution that can confirm it.
• Mark unresolved items rather than assuming they are covered.

Compare who acts, and under what authority

A revocable trust can provide for a successor trustee to manage property held in the trust if the named trustee is no longer serving. A durable financial power of attorney instead authorizes an agent to act on someone’s behalf; its scope, duration, and limits depend on the document. These roles are not interchangeable, and neither should be treated as automatic authority over everything a person owns.

A healthcare agent and healthcare preferences belong in healthcare-planning documents, not in assumptions about a financial trust. Compare the documents by asking what property or decisions each covers, who may act, and what happens if the named person cannot serve. The CFPB distinguishes trustees, agents under powers of attorney, court-appointed guardians or conservators, and benefit fiduciaries as different roles.

• Who is the first choice and alternate for each role?
• What authority does each document grant, and what property or decisions does it address?
• Which institutions or people need current copies or instructions?

Use a coordination worksheet before the meeting

Bring a simple worksheet with one row per asset and columns for current owner, account or title record, beneficiary information if applicable, intended trust treatment, and next question. Add a separate list of proposed trustees and alternates, with contact information and any concerns about serving. This makes gaps visible without treating an inventory as proof that a transfer has been completed.

For Alexandria real estate or other DeKalb County land records, identify the property and gather the deed or available ownership records. The UT CTAS directory lists a DeKalb County Register of Deeds contact at 732 S. Congress Blvd., Room 101, Smithville. Directory information may be a mailing address; confirm current location and instructions before visiting. A recorded document or directory listing does not by itself establish clear title or determine the appropriate transfer.

Ask how the pieces will be maintained

Discuss what assets should be titled in the trust, what should remain outside it, and how any beneficiary designations or joint ownership fit the plan. Ask how successor trustees will learn what they are responsible for, where records will be kept, and what changes should prompt a review of the documents.

Trust income-tax reporting depends on the trust’s terms and treatment; grantor-trust and separate-entity treatment differ. A trust’s name alone does not determine its tax result. Ask how the proposed arrangement affects reporting and which records should be retained. Dale Law Group, PLLC offers revocable living trust planning along with related estate-planning services.