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Usually that entails amending the trust through a separate written document signed by the settlor and delivered to the trustee (who are usually the same person). This document must be created and executed like the original trust, generally before a notary. It should clearly state the desired changes.

Both approaches have their benefits and drawbacks, but we generally prefer the use of a trust. The reason for this is that a trust protects the house and the parents in case the child or children run into financial difficulties whether due to the loss of a job, illness, a lawsuit, bankruptcy or a divorce.

You create a land trust by drafting a trust agreement that names a trustee and beneficiary and then transferring property into the trust by deed and recording the deed at the county clerk and recorder's office. The deed is the only document that is ever reported with a land trust.

You can get help from an attorney or use Willmaker & Trust (see below). Sign the document in front of a notary public. Change the title of any trust property that has a title document—such as your house or car—to reflect that you now own the property as trustee of the trust.

The state uses the Uniform Probate Code, though, so unless your estate is particularly large or complex, it may not be needed in Colorado. You can make a living trust by yourself, but if you want to use one it may make sense to find an attorney to help you do it right.

Colorado has a statute which says the trustee of a trust having its principal place of administration in Colorado shall, within thirty days after his or her acceptance of the trust, register the trust in the court of this state at the principal place of administration.

To transfer real property into your Trust, a new deed reflecting the name of the Trust must be executed, notarized and recorded with the County Recorder in the County where the property is located. Care must be taken that the exact legal description in the existing deed appears on the new deed.

Certain documents, including wills, codicils, testamentary trusts, divorce and adoption papers, some court orders, and notarized contracts, cannot typically be signed electronically.

Your living trust will allow your property to avoid probate and allow you to keep your affairs private, but it won't give you asset protection. If asset protection is important to you, you need to speak to your estate planning attorney about creating one or more types of an irrevocable trust.