Personal assets that can go into a revocable living trust include checking and savings accounts, brokerage accounts not for retirement, stocks and bonds, real estate, small business holdings, patents, copyrights, and rights to natural resources, reports About.com. Retirement accounts and medical savings accounts should not go into the trust.
The amount of assets the creator of a revocable living trust puts into it depends on personal needs and circumstances, states AARP. These trusts benefit people without many assets because they avoid the expensive process of probate, points out Bankrate. Revocable living trusts are especially useful for those with assets in small businesses, real estate or valuable collectibles, according to CNN Money.
Investment accounts are transferable to living trusts unless they are retirement accounts, points out About.com. Transfer counts as complete withdrawal of the funds in retirement accounts, and the money is then subject to income and penalty tax. When transferring stock and bond certificates, they must be exchanged for new certificates. The transference of real estate requires the drawing up of new deeds. Creators of revocable living trusts can include all personal effects such as household items, books, papers, jewelry, collectibles, antiques, art, weapons and pets. However, in some states, the transference of vehicles involves a heavy tax when issuing a new title. Sole proprietorship businesses can be transferred intact. The trust creator's shares in partnerships, closely held corporations and limited liability companies are normally transferable.