Revocable Living Trusts in Selmer

Start with the asset map

Before deciding whether a revocable living trust fits your goals, list what you own and how each item is currently titled. Include real estate, financial accounts, and other significant property. For each item, note any named beneficiary or existing ownership arrangement, and gather the most recent statements or records that show it.

Then mark what you want reviewed for possible trust ownership and what may need to remain outside the trust or be coordinated another way. Signing a trust document alone does not transfer assets into it. The plan should make clear what follow-up is needed for each asset, rather than assuming that every item is covered.

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.

• Asset and current-owner or title information
• Beneficiary designations and related account records
• Existing estate-planning documents and questions about who should manage each asset

Compare the roles, not just the documents

A revocable living trust and a will are different planning tools; choosing one does not make the other document’s role disappear. Discuss how the trust should coordinate with your will and with any assets that are not titled to the trust. The useful comparison is how your actual property and instructions fit together—not a general promise about what a trust will accomplish.

Also distinguish the successor trustee from an agent named under a power of attorney. A trustee acts in a trustee role; an agent’s authority comes from the power of attorney, whose scope, duration, and limits matter. These roles are not interchangeable. Identify who would act in each role and ask what authority each document gives that person.

Check real estate records carefully

If real estate is part of the plan, identify its current ownership and discuss what records or transfer steps may be appropriate before treating it as trust property. McNairy County’s Register of Deeds is listed in the UT CTAS directory at 170 West Court Ave, Room 105, Selmer, TN 38375. The directory address may be a contact or mailing address, so confirm current instructions before visiting. A directory listing or recorded document does not by itself establish clear title or determine the right legal procedure.

Consider tax treatment and future administration

A trust’s name alone does not determine its income-tax treatment. IRS guidance distinguishes grantor-trust treatment from separate-entity treatment, so include tax questions in the planning conversation rather than assuming that creating a trust produces a particular tax result.

Make a short administration checklist: where the signed documents and asset records are kept, who should know how to locate them, and which assets still need review. Ask how the plan should be revisited if ownership, beneficiaries, or your preferred successor decision-makers change.