Existing rental is under individual name, registered on the loan and the deed of trust, for the title to change from individual to LLC without refinancing, the bank for a small fee, will convert the load documents and the loan name to an established LLC, but will not allow the deed of trust to be changed from individual to LLC without refinancing.

Question- shold the individual name remain on the deed of trust is it OK, or needs to be placed in living trust?

This is for only reducing the exposure of liability.

Does any one have a good idea on this?

The name on the deed has to be changed to limit the liability, and this will of course only limit future liablity, if you had some past event, it will not do away with that liablity.

Changing the loan means nothing really as for as claim to the actually property. Ok, it means something's for debts owed and who owes the debt but it does not protect the property from personal claims.