It is quite common to own assets in other states or even other countries and it is important to plan for all of your assets no matter where they are located. Different states have different laws when it comes to property but one thing remains the same if your assets are titled into the name of your trust they will pass on to your beneficiaries without going through probate.

If you do not title your out-of-state property into the name of your trust your loved ones will need to open a Probate, if you own property in multiple states Probates would have to be opened in each state. Your trust that was established in California is valid in all 50 states, with that being said inheritance laws are different in every state so you should be conscious of how things like the death tax which doesn’t exist in California but does in other states such as Oregon may impact you trust or beneficiaries.

International assets are a bit more tricky. If you own assets outside of the United States it may be beneficial to create an estate plan in the country where you own the asset. While you may be able to title international property into the name of your trust there may be pitfalls such as tax consequences, inheritance laws, or the country may not recognize your trust period. For these assets, you should seek counsel from an attorney who is familiar with the laws of the country where your property is located.

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