Living Trust, Revocable Trust, Is there a Difference?
Dale Tamburro • September 17, 2026

What do you need to know?


  • A living trust (usually a revocable living trust) is a legal tool that can help your family avoid probate and manage assets if you become incapacitated.
  • A trust only controls assets you actually put into it — if you don’t “fund” it, your plan may not work the way you expect.
  • A living trust is not a tax shortcut for most families, and it doesn’t replace key documents like the will and powers of attorney.
  • Beneficiary designations and jointly owned property may override what your trust says, so coordination matters.

A living trust (usually a revocable living trust) is a legal tool that can help your loved ones avoid probate and can make it easier for someone you trust to manage assets if you become incapacitated (unable to manage your affairs).

This guide explains what a living trust is, what it does (and doesn’t do), and the practical steps to set one up — including the most important step many families miss: funding the trust.



Living Trust vs. Revocable Trust: Are They the Same?

In everyday conversation, “living trust” usually means a revocable living trust (often shortened to “revocable trust”).

  • Living: created during your lifetime
  • Revocable: you can typically change it or cancel it while you’re alive and have capacity

By contrast, irrevocable trusts generally can’t be changed once created. Irrevocable trusts can be used for specialized goals (including some long-term care planning strategies), but they work differently than the “standard” living trust most families mean when they ask about a living trust.



What Is a Trust and When Should My Estate Plan Include One?

A trust is a legal arrangement through which one person (or an institution) holds legal title to property for another person.

  • The person who creates the trust is often called the grantor (or donor).
  • The person who manages the trust is the trustee.
  • The people who benefit from the trust are the beneficiaries.

With a revocable living trust, you can often serve as:

  • the grantor,
  • the trustee, and
  • a beneficiary

all at the same time.

A living trust can hold many types of assets, such as real estate, bank accounts, investments, and certain valuable personal property. (Retirement accounts like 401(k)s and IRAs are often handled through beneficiary designations rather than being retitled into a trust.)



What a Living Trust Does (And Why People Use It to Avoid Probate)

The most common reason people create a living trust is to help their loved ones avoid probate.

Probate is the court-supervised process of validating a will and transferring probate assets to heirs. Probate can be time-consuming, public, and expensive — especially when there are family conflicts or complicated assets.

Assets titled in a properly set up and funded living trust can usually pass to beneficiaries without a probate court having to supervise that transfer.



Incapacity Planning: A Second Major Benefit

A living trust can also help if you become unable to manage your financial affairs.

If you have a co-trustee or a successor trustee, that person may be able to step in and manage trust assets with less friction than a family member trying to rely on a financial power of attorney. In practice, some banks and institutions are more comfortable dealing with trustees than with older powers of attorney.



What a Living Trust Does Not Do

A living trust is powerful, but it isn’t a cure-all; for example:

  • It doesn’t automatically reduce estate taxes for most families.
  • It doesn’t replace a will (many people still need a will for “left out” assets and guardianship nominations for minor children).
  • It doesn’t automatically control everything. Retirement accounts, life insurance, and payable-on-death (POD)/transfer-on-death (TOD) accounts usually pass by beneficiary designation.
  • It doesn’t guarantee there will be no conflict, but clear planning can reduce confusion.


Funding a Living Trust (The Step Most People Miss)

The secret to making a living trust work is to fund it. Funding means retitling assets — whether real estate, bank accounts, or investment accounts — in the name of the trust. All too often, people sign trust documents and then never transfer the assets. If assets aren’t in the trust, the trust may not control them.



A Practical Funding Checklist

The exact steps depend on your state and your financial institutions, but the common categories include:

  • Bank accounts: Your bank will have trust account paperwork. Some accounts can be retitled; others require opening a new trust account and moving funds.
  • Brokerage and investment accounts: A similar process — your custodian will provide forms.
  • Real estate: Often requires a new deed transferring the property into the trust, plus any required supporting documents.
  • Vehicles: Rules vary by state; ask your attorney what’s typical.
  • Personal property: Many plans use a written assignment of household items and personal effects.
  • Safe deposit boxes: Ask the bank how access works after death or incapacity.



Retitling Language Matters

Financial institutions require titling that looks like: “[Your name] as Trustee of the [Trust name] dated [date].”

Your attorney can help you confirm the exact wording for your trust.



Real Estate and Refinancing Caution

If you intend to refinance your property or take out a line of credit, ask your attorney whether it’s easier to do that before transferring the property into the trust. Some lenders require property to be temporarily transferred out of the trust to close a new loan.



Don’t Forget Beneficiary Designations

Even with a well-drafted, well-funded trust, beneficiary designations can send assets in a different direction.

Common examples include:

  • IRAs and 401(k)s
  • life insurance
  • annuities
  • POD and TOD accounts

That’s why it’s smart to periodically update beneficiary designations.



Pour-Over Wills: A Backstop

Many people sign a “pour-over will” along with a living trust. A pour-over will generally says that if you die owning assets outside the trust, those assets should be transferred (“poured over”) into the trust.

This can help to keep your overall plan consistent. But if assets have to pour over through a will, that usually means those assets still have to go through probate first.



What to Consider in Setting Up a Living Trust

A good living trust document doesn’t just say who inherits. It also answers practical questions, such as:

  • When does the successor trustee take over?
  • How is loss of capacity defined?
  • What investment powers does the trustee have?
  • Can the trust pay debts and expenses?
  • Can anyone remove or replace the trustee?
  • What information (accountings/statements) must be provided to beneficiaries?
  • If beneficiaries are minors, should distributions be held until a later age?



FAQ

  • Do I still need a will if I have a living trust? Often, yes; a will can cover assets outside the trust and can nominate guardians for minor children.
  • Can I change my living trust later? Usually, yes — that’s one reason revocable trusts are popular.
  • Does a living trust protect assets from Medicaid or nursing home costs? Not necessarily: A standard revocable living trust typically does not shield assets for Medicaid eligibility purposes. If long-term care planning is a goal, see whether a home in a trust is considered an asset by Medicaid and speak with an estate planning attorney.




Work With an Estate Planning Attorney

A living trust can be an excellent tool for avoiding probate — but it only works well when it’s set up correctly and funded.

For help drafting and funding a living trust that fits your state’s rules and your family’s needs, work with a qualified estate planning attorney near you today.

I Inherited a House. What Should I Do Next?

By Dale Tamburro • September 17, 2026
 Takeaways Do not rush into selling, renting, or moving into an inherited house before confirming ownership and financial obligations. Your main options may include moving in, selling the property, renting it, or buying out other heirs. Inherited real estate generally receives a new tax basis tied to its value when the owner died, but the tax result depends on the property and the transaction. Disagreements among siblings, Medicaid concerns, trusts, mortgages, and out-of-state property may require advice from an attorney or tax professional. Inheriting a house can create both financial opportunities and difficult decisions. The property may be a valuable asset, a family home filled with memories, or an expensive responsibility that you do not want to manage. You may be wondering whether to move in, sell the property, rent it out, or share it with other heirs. Before choosing an option, confirm who owns the property, understand the costs, and consider the legal and tax consequences. Start With These Immediate Steps You do not have to decide the property’s long-term future immediately. But you should take steps to protect the house and understand the situation. Confirm Who Owns the Property Review the will, trust, deed, probate filings, and other estate documents. The person named in a will may not automatically have complete authority to sell or transfer the house while the estate is being administered. Ownership may also be affected by joint ownership, a transfer-on-death deed, an irrevocable or revocable turst or state-specific probate rules. Before signing a listing agreement or transferring the property, confirm that the correct person or people have authority to act. Protect and Maintain the House Make sure the property is secure and continues to have appropriate insurance coverage . Insurance agents must be notified of the death of the owner/occupant. If no one is occupying the property, the insurance cost will change. If the insurance agency is not notified you may be denied a later claim. Depending on the circumstances, you may also need to: maintain utilities pay property taxes address urgent repairs protect the house from weather or other damage If the property has a mortgage, home equity loan, or reverse mortgage, contact the loan servicer. Do not assume that you can simply ignore the loan or transfer it to an heir. The estate documents, loan terms, and applicable law may affect what happens next. Gather the Financial Information Collect documents showing: The current mortgage balance and monthly payment Property taxes and insurance costs Homeowners association fees Utility and maintenance expenses Liens or other claims against the property Recent appraisals or assessments Records of major improvements Rental income, if the property was previously rented This information can help you compare the cost of keeping the property with the likely proceeds from selling it. Should You Move Into the Inherited House? Moving into the house may make sense if it is in a location you want, meets your needs, and can be maintained within your budget. Before moving in, consider: Whether the house needs repairs or accessibility modifications The cost of property taxes, insurance, utilities, and maintenance Whether there is a mortgage or other debt Whether you can afford the house over the long term Whether other heirs also have ownership rights Whether moving would affect your work, health care, or family responsibilities If you inherit the property with siblings or other people, moving in does not necessarily give you the right to make all decisions about the house. Co-owners may need to agree about repairs, expenses, use of the property, and whether anyone should pay rent. Put agreements among co-owners in writing. A written agreement can address who may live in the home, which expenses each person will pay, how repairs will be approved, and what happens if someone later wants to sell. Should You Sell the Inherited Property? Selling may be the most practical option when multiple heirs want to divide the asset, the property is expensive to maintain, or no one wants to live nearby. Before listing the house, consider: Its current market value Needed repairs and preparation costs Real estate commissions and closing costs Existing mortgages, liens, and unpaid taxes The timing of the probate or trust administration Whether all owners must sign the sale documents The possible income tax consequences A sale can provide a clean separation among heirs. However, disagreements about the listing price, repairs, timing, or distribution of proceeds can delay the process. An appraisal may help establish a fair value before one heir buys out the others or the property is listed. Should You Rent the Inherited House? Renting the property may create income and allow the family to keep the home as an investment. It also creates ongoing responsibilities. Consider the cost of: Property management Repairs and routine maintenance Insurance and property taxes Vacancies and unpaid rent Tenant screening and legal compliance Accounting and income tax reporting Disagreements among co-owners If several people inherit the house, decide in advance who will manage it, how rental income will be divided, and how large expenses will be approved. A property that produces rental income can still be a poor investment if the owners cannot agree or the maintenance costs are too high. What If You Inherited the House With Siblings? When siblings inherit a house together, the property cannot be physically divided as easily as cash or investments. The heirs generally need to agree on one of several arrangements. Options for Handling a House Inherited With Siblings Option May Work Best When Main Issue One heir buys out the others One person wants to keep the home Agreeing on a fair value and payment terms Sell the property The heirs want to separate their interests Repairs, sale costs, timing, and division of proceeds Rent the property Everyone wants ongoing income Management, expenses, vacancies, and future disagreements Mediate the dispute The heirs disagree but want to avoid court Everyone must participate in good faith If the heirs cannot reach an agreement, a court proceeding may be available in some states to resolve co-ownership disputes. The rules and procedures vary, so consult an attorney in the state where the property is located before taking legal action. What Are the Tax Consequences? The tax consequences depend on a variety of factors, including: the property’s value how it is used when it is sold the applicable state law For federal income tax purposes, the basis of inherited property is generally its fair market value on the date the owner died. If you sell the property for more than your adjusted basis, you may have a taxable gain. If you sell it for less, you may have a loss, although the tax treatment can depend on how the property was used. The Internal Revenue Service (IRS) explains how basis applies to inherited property . The IRS also provides information for executors and administrators about selling or disposing of inherited property in Publication 559 . Keep documents showing the property’s value at the owner’s death. Also hold on to appraisal reports, improvements, selling expenses, and other costs. Ask a tax professional how to determine and document the basis before filing a return or completing a sale. When Should You Get Legal Advice? Consider consulting an attorney before making a major decision if: The property is still going through probate A trust owns the property Multiple heirs disagree about what to do One heir wants to live in the house The property has a mortgage or reverse mortgage The home is located in another state A beneficiary receives Medicaid or other needs-based benefits The property may be subject to estate recovery Someone wants to give or transfer their share to another person There are questions about undue influence, debts, or the validity of the will An elder law or estate planning attorney can help coordinate the property decision with Medicaid planning, trusts, incapacity planning, and the rest of the estate. Learn more about using estate planning to prepare for Medicaid and the difference between elder law and estate planning . Questions to Ask Before Deciding Before moving in, selling, renting, or agreeing to share the property, ask: Who legally owns the property right now? What debts, taxes, insurance, and repairs must be paid? What is the property worth in its current condition? What does each heir want to happen? Can the heirs afford to keep the property? What will happen if one heir changes their mind later? What are the legal and tax consequences of each option? Answering these questions can help the family make a decision based on financial facts rather than pressure or emotion. Make a Decision That Fits Your Circumstances There is no single best choice for every inherited house. Moving in may preserve a family home but create ongoing costs. Selling may provide clarity but require difficult conversations. Renting may produce income but comes with landlord responsibilities. Keeping the property with siblings may work, but only if the owners have a clear agreement. Take time to understand the property and document its value. Communicate with the other heirs and obtain professional advice when the situation is complicated. A thoughtful decision can help protect the value of the inheritance and reduce future conflict.

TRANSFERRING PROPERTY TO REVOCABLE LIVING TRUSTS

By Dale Tamburro • July 10, 2026
Those of us who set up "Revocable Living Trusts" do so with at least one of these objectives in mind: 1. To avoid probate court supervision of your property in the event of your disability. 2. To avoid probate court supervision of your property at the time of your death and during the settlement of your estate. 3. To avoid probate court supervision of property which you wish to be managed in trust funds after your death. If your objective in establishing a Revocable Living Trust is solely to avoid probate court supervision of the trust(s) you establish for your family, and these trusts are not intended to come into existence until after your death, then there is no need to transfer title to your property into trust name while you are alive. You may continue to own all of your property in your own name, unless for tax or other reasons we have suggested that rearrangement of title be made as between yourself, your spouse, your children or other forms of trusts. Likewise, if your objective in establishing a Revocable Living Trust is to avoid probate court supervision of your property in the event of your disability, you need only give an appropriate "Durable Power of Attorney" to a family member, trusted friend or advisor. This Power of Attorney should authorize your attorney-in-fact to transfer your property to your Revocable Living Trust after you become disabled or incapacitated. No property need be placed in trust name prior to that time. Despite this, I often recommend funding the trust yourself, while you are alive because successor trustees often have better luck with financial institutions then being empowered under a Durable Power of Attorney. If your objective is to avoid probate of your property at the time of your death and the settlement of your estate, you will be successful only if and to the extent that your property is transferred into the name of the Trustee of your Revocable Living Trust before your death. This Memorandum is intended as a general guide for you to use in making the title transfers that are necessary if you wish to avoid probate of your estate by use of a Revocable Living Trust. Please keep clearly in mind that your Revocable Living Trust can still be an effective form of "Will" for you even if you do not place your property in the trust while you are alive, but you will not have the extra advantages of avoiding probate. Transferring property to a Revocable Living Trust while you are alive is best thought of as a means of avoiding the cost of probate after your death by doing the work yourself while you are still alive. You will not need legal help for most of the transfers, if you are willing to put in the time and effort. To the extent you do not wish to make this effort, we are perfectly willing to take care of these matters for you, but of course we will have to charge for our services at our usual hourly rates for attorneys and paralegals. I. Transferring Title to Property - The First and the Most Important Step It is unfortunate but true that there is no uniformity among the various banks, brokers and other institutions as to how title to property is properly transferred to a Revocable Living Trust. Until the time comes when there is such uniformity, each institution you deal with is apt to have its own requirements, assuming it is familiar at all with the concept of a "Revocable Living Trust." You will save yourself a great deal of time and trouble if the very first step in your program for transferring assets is to CALL THE INSTITUTION INVOLVED AND FIND OUT WHAT IT REQUIRES. When you call, you should say: " I would like to transfer my (description of property) into my Revocable Living Trust. Would you please tell me what I have to do and send me the necessary paperwork. " The institution may be perfectly familiar with this process, and have a quick answer for you. If so, follow its requirements to the letter. Do not attempt to argue with the institution as to whether its requirements are "right," you will most likely be dealing with someone at a relatively low level who has no decision-making capability and can only follow the instructions of his or her superiors. If the person you are calling doesn't seem to know what you are talking about, ask the person to refer you to someone else who might help you. If you still can't get any satisfaction, your best hope is to call us and ask for assistance. II. Completing the Papers Necessary to Transfer Title As we mentioned, each institution will have its own requirements for transferring title. You are likely to be dealing with banks, brokerage firms, insurance companies, companies in which you own stock or bonds, and so on. Some of their requirements may include: A. Identification of the Trust We normally recommend that you use a fairly formal legal title for your Revocable Living Trust, which includes the name of the Trustee or Trustees followed by the word "Trustee," the name of the trust (usually your own name) and the date on which the trust was signed. It might look something like this: "John L. Jones, Trustee of the John L. Jones Revocable Trust under trust dated May 14, 2024." Almost any variation on this name is appropriate, particularly if your Revocable Living Trust itself includes a statement that the trust may be known by a simpler name, such as "The John L. Jones Revocable Trust." However, do not insist on using this name if the institution prefers its own method. Be sure, however, the name chosen at least contains the name of the trust, the Trustee's name, the word "Trustee," and the date of the trust, such as "John Jones, Trustee u/d/t3 dated 5/14/24." B. Tax Identification Number Most institutions will request the trust's taxpayer identification number. If you are a Trustee or a co-Trustee, the tax identification number will be your Social Security number. If you are not a Trustee or a co-Trustee, you will need a taxpayer identification number. You should ask the Law Office of Dale J. Tamburro to obtain a taxpayer identification number for your trust or your accountant. C. Signature Authority If there is more than one Trustee, as, for example, where you and your spouse are co­ Trustees, you may be asked to designate who has power to sign documents on behalf of the trust. It is most likely your trust contains a power to delegate signing authority, in which case, if you wish, you may choose between having either Trustee sign on behalf of the trust or having both Trustees sign. D. Copy of Trust Agreement Occasionally, an institution may request a copy of the Revocable Living Trust Agreement for its files. In general, it is recommended that you provide the institution with a photocopy of the Agreement rather than with an original. If you do not feel comfortable with furnishing the institution with the entire Trust Agreement, ask the institution whether it will accept the first and last pages of the Agreement, which should be sufficient to identify the parties to the Agreement and the date it was signed. III. Transferring Title - Some of the Requirements for Common Types of Property A. Brokerage Accounts; Bank Custody Accounts You probably will find that brokerage firms and banks, in particular, and often other organizations, will ask to have another set of contracts of agreements signed by the Trustees of your Revocable Living Trust. Presumably they will be the same contracts or agreements you signed previously in your individual capacity. B. Registered Stocks and Bonds If you own stocks or bonds in your personal name (i.e., they are not registered in the name of your bank or brokerage firm), they need to be transferred into the names of the Trustees of your Revocable Living Trust. Your broker may ask you to endorse the back of the stock or bond certificate, or to supply what is known as a stock or bond "power" authorizing the transfer agent for the company involved to make the transfer on its books. Occasionally, you may be asked to provide a formal Letter of Instruction requesting the transfer which must be signed by you and guaranteed by an authorized official. C. Unregistered (Bearer) Bonds To transfer bonds which are not registered in your name (i.e., bearer bonds) to your Revocable Living Trust, we suggest that you open a safe deposit box in the trust's name and place the bonds in the safe deposit box inside an envelope which is marked with the trust's name. D. Real Estate You will need the help of an attorney to change title to real estate. The Law Office of Dale J. Tamburro, P.C. would be glad to help, or you can contact the attorney who handled the original closing for you. There is a fair amount to do in transferring title to real estate, but in most cases the charges for residential real estate should not exceed several hundred dollars if you can supply copies of the existing deed and the most recent tax bill for the property. You will be asked to sign new deeds transferring title from yourself to a simple "nominee" trust (the beneficiary of which is your Revocable Living Trust), and those deeds will then be recorded in Registry of Deeds where the property is located. There will be an additional small filing fee by the Registry for recording these deeds. If there is any indebtedness on the property, it may be advisable to obtain the written consent of the lending institution prior to completing the transfer. E. Partnerships Many people have invested in real estate, oil and gas, or other partnerships. Some of those partnerships are publicly traded; others are private. Some partnership agreements require that the consent of other partners be obtained before transferring the property to a Revocable Living Trust; others don't. It is important for you to contact the Managing Partner of the partnership (or the financial advisor or brokerage firm which introduced you to the partnership) and ask for their particular requirements. F. Bank Accounts To transfer a bank account to a Revocable Living Trust, call your bank officer for instructions. Usually all that will be required is to open a new account and have the Trustees sign a new signature card. It is generally not advisable to transfer a checking account into the name of a Revocable Living Trust unless the account consistently contains a large balance. It should also be noted that transferring a Certificate of Deposit to a Revocable Living Trust prior to its maturity may result in a forfeiture of interest. G. Motor Vehicles and Boats Generally, we advise against transferring title to motor vehicles and boats to Revocable Living Trusts, partly because of the time and difficulties involved in dealing with the Department of Motor Vehicles, and partly because of the reasonably quick changeover or properties as one buys and sells them. However, in the case of an antique car of considerable value, or a very substantial boat, it might be worth the effort. Again, you will need to call the Department of Motor Vehicles or other appropriate state or federal agency to find out the transfer requirements. They all differ, and you should be prepared for conflicting advice. H. Contents of Your Home There is a difference of opinion among attorneys as to whether it is practical to transfer the contents of your home (furniture, furnishings and the like) into your Revocable Living Trust. Obviously, the contents of your home are ever changing. It is uncertain whether a transfer of the contents you now own will be effective with respect to furniture and furnishings you acquire later. Some of our clients who are extremely concerned about entirely avoiding probate at all costs have taken the step of assigning their "tangible personal property" to their Revocable Living Trust, following the format shown on Exhibit A to this memorandum. The Law Office of Dale J. Tamburro, P.C. feel it is appropriate to sign such an assignment, so long as you recognize that it can lead to disputes later on as to who owns the property, what types of property are included on the assignment, when ownership is to be determined and similar issues. To minimize such disputes, if you own valuable tangible personal property such as artwork which you wish to transfer to your Revocable Living Trust, we suggest you sign a separate assignment form fully describing the property. I. Insurance Policies on Your Life As a broad general rule, there are greater tax advantages to placing insurance policies in a separate form of trust known as an Irrevocable Life Insurance Trust rather than in a Revocable Living Trust. However, even if you elect not to place the insurance policies in an Irrevocable Life Insurance Trust, the insurance proceeds will still not pass through probate as long as they are payable to a named beneficiary. Therefore, it is only advisable to name your Revocable Living Trust as the beneficiary of your life insurance if you wish to add the proceeds to trusts established for your family under your Revocable Living Trust which will continue after your death. It would be very rare to name your Revocable Living Trust as owner of the policies, as this arrangement lacks the often considerable tax advantages of an irrevocable insurance trust. If you do decide to designate your Revocable Living Trust as beneficiary of your life insurance, contact the insurance company and request a change of beneficiary form for the policy. On the form, identify the Revocable Living Trust as beneficiary of the policy in the manner described above. J. Pension Plans and IRAs In some cases, it may be desirable to designate a Revocable Living Trust as beneficiary of an IRA or pension plan, particularly if you would like the proceeds to be added to trusts established for family members under your Revocable Living Trust which will continue after your death. Since it may not always be beneficial from an income tax standpoint to make such a designation, particularly if there is a surviving spouse, it is important to consult the Law Office of Dale J. Tamburro, P.C. prior to doing so. If you decide to designate your Revocable Living Trust as beneficiary, you should obtain beneficiary designation forms from the plan administrator or bank, and the Revocable Living Trust should be correctly identified as the new beneficiary on these forms. For some pension plans, a married person must obtain the written consent of his or her spouse in order to designate a Revocable Living Trust as the primary beneficiary of the plan. IV. Other Details to Consider In addition to transferring title to your property into the name of the Trustee of your Revocable Living Trust, you should consider some or all of the following: A. Transferring Insurance Coverage If you transfer some types of property to your Revocable Living Trust, such as your home, household furniture and furnishings, or your automobile, there may be insurance policies associated with this property. Most of us own homeowner's or automobile policies, for example. You should call your insurance agent and ask whether your policies should be rewritten so that they show the legal owner to be the Trustee of the Revocable Living Trust. B. Requesting Confirmation of Transfers Within a few weeks of transferring property to your Revocable Living Trust, you should contact the appropriate institution and request written confirmation that the transfers have been properly completed. Where appropriate, you should request the new documents of title (i.e., newly issued stock or bond certificates, deeds, etc.) and forward them to the Trustees of your Revocable Living Trust. C. Contact This memorandum is intended to provide general guidance with respect to transferring assets to your Revocable Living Trust. If you should encounter any difficulties or questions during the transfer process, you should consult the Law Office of Dale J. Tamburro, P.C. to ensure that the transfers have been properly made so that your objective in avoiding probate court supervision of your property may be accomplished. EXHIBIT A ASSIGNMENT OF TANGIBLE PERSONAL PROPERTY STATE OF ) ) ss: COUNTY OF ) I, John L. Jones, individually, hereby assign any interest I may have in all of my tangible personal property to myself as Trustee (or any Successors in Trust) of the John L. Jones Revocable Trust under Agreement dated May 14, 2011. John L. Jones, Individually ___________________________________________ John L. Jones, Trustee ___________________________________________ Witness ___________________________________________ Address___________________________________________ Witness ___________________________________________ Address___________________________________________ STATE OF ) ) ss: COUNTY OF ) The foregoing instrument was hereby acknowledged before me this day of , 2011, by John L. Jones, Notary Public: My commission expires: