By Kirk Matthews

There was a time when most of us thought of a "trust" as a legal
document for wealthy families. Not so. Experts tell us more and more
families are using a trust to protect their assets and their future.

Whether it's cash, a car, or property - a will alone may not be enough
to keep your estate out of probate court.

Financial Advisor, Diane Chong says, "Probate really has a bad ring
for people. People think that probate is such a bad thing. Really,
it's just a court-supervised process to make sure that your assets go
to its rightful owners."


It is not just enough to draw up a will and/or a trust. you need to
assign your assets to the trust.

"And that's a really important point because some times people - they
take the time, they spend the money to draw up a 20 page trust
document and they never change any of their assets to the trust name."


Chong says it's also a good idea to let your financial institution
give you some help.

"The better thing is, if you have bank accounts, you take a short form
of the trust document to the bank and you say I want to change the
title from my individual name to my trust."

Again, Chong emphasizes your will and trust have to be in agreement -
- and your assets have to be titled.

"So you can have a will drawn up, you could have a trust drawn up, but
everything is joint. Those two documents aren't really going to
control anything. It's really how your assets are titled that's going
to determine how they pass at your death."

Another good bit of advice - keep track of what you own.

"Filling out an organizer like this is good because it makes you list
down everything and how it's titled and then you can get a big picture
of your total estate."

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