Trust or Will: Control of the Assets

[Music] Hi this Keith Davidson at Albertson and Davidson in this video I want to discuss what constitutes trust assets after somebody dies so after a parent dies normally the trust that they created during their lifetime becomes irrevocable and the assets of that trust will depend on what assets they transferred into the name of the trust before their death there could be other assets that your parents owned that aren't part of the trust for example maybe they had a bank account that was in joint tenancy with one of their children or maybe they had a life insurance policy where all of the kids are named as beneficiary those types of assets are not going to be part of the trust estate or to the trust assets because they transfer outside of the trust terms the only thing that the trust is going to control is the assets that are titled in the name of the trust so if you have a house for example and there was a deed transferring it from your parents name into the name of your parent as trustee of the trust that would be a trust asset after your parent dies so the first thing you want to do is you want to look around and figure out what assets have the trust name on them if there's a brokerage account is that brokerage account titled in the name of the trust same thing with bank accounts any asset that you're looking at you have to ask how is that titled what name is that asset located in and once you figure out that then you'll know what assets constitute the trust after your parent dies albertson and Davidson is here to help you fight for your inheritance check out Alda law comm for our complete library of helpful legal videos and articles from your favorite California trusts and we'll litigation law firm Albertson and Davidson LLP.