Titling of assets

The biggest problem many people have in estate planning is the proper titling of their assets. Joint with right of survivorship is only appropriate for spouses. Each person should have his or her own assets titled in the name of their living trust because if you just put someone else's name on your house you are technically giving them a gift of half of the value. Not a good plan........It is very simple to retitle an asset. Simply file a quit-claim deed in the case of real estate and give the bank a copy of your trust in the case of bank accounts. These simple steps can save a lot of time, money and heartache.