What is Trust "Funding?"
Creation of a trust is the first step—funding the trust is what allows your assets to avoid probate. "Funding" entails directing an asset to the trust either during your lifetime or upon your death. Once part of your trust, the asset can be managed and distrubited according to your wishes.
How Do I Fund My Trust?
Funding your trust typically means either: 1) Re-titling the asset to the trust, or 2) changing the beneficiary designation to the trust. If you've worked with us within the past 10 years, we would have provided information on how to properly fund your trust.
Why is Funding My Trust Important?
If an asset isn't properly transferred into the trust it may go through probate, costing your heirs time, money, and frustration.
What Is the Best Way to Create My Estate Plan?
Our firm will provide funding instructions, which include a detailed list of your assets and how to accomplish the transfer of those assets to your trust. As you acquire other assets, you can contact us for additional funding information and guidance.
If you have questions about trust funding or would like to review your estate plan, please complete the form on this page to schedule an appointment with one of our experienced estate planning attorneys. To learn more about trust planning, visit this article on Living Trust Planning: The Best Way to Avoid Probate.
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