The Assignment of Personal Property is designed to ensure that all of your tangible personal property (such as jewelry, clothing, household items, furniture, etc.) is legally transferred into your Revocable Living Trust. This ensures that these items will be managed and distributed according to the terms of the trust, rather than going through probate.
Key Points:
You are transferring your tangible personal property to yourself and other co-trustees(if applicable) of your Revocable Living Trust. This includes all personal items currently owned or acquired in the future.
The document lists various types of personal property, such as jewelry, furniture, electronics, and other tangible articles, indicating that all such items are covered by this assignment.
The document includes a notary acknowledgment section, which ensures the transfer is officially recognized and legally binding.
In essence, this document ensures that your personal property is properly funded into your trust, so it can be managed and distributed by the trustees after your death, avoiding probate.