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Funding Specific Assets

 

When transferring assets to your living trust, it's important to be knowledgeable about how various types of assets are best funded.  This involves determining what legal steps are required to fund particular asset types and then coordinating that with the custom goals of your estate plan.  For example, in some cases it is advisable to change ownership by re-titiling the asset to the trust.  With other assets, it's wise to change only beneficiary designations.  In some circumstances it may be prudent to change both!   Being informed about these matters is only part of the process.  Other important factors to consider are:

 

■ How to draft legally sound trust funding transfer documents which address your specific objectives

 

■ How to obtain and accurately complete company-specific transfer forms required by many financial institutions

 

■ How to identify and provide the trust documentation required by financial companies in order to fund the asset properly

 

■ How to secure written verification documenting that an asset has in fact been properly transferred to the trust

 

Trust funding is typically coordinated with the goals of your custom estate plan.  We recommend you consult with your estate planning attorney to ensure that you follow proper procedures when funding your living trust.  Because each estate plan is unique, your attorney can provide you with specific trust funding guidance customized to your planning circumstances.  You may also locate an estate planner in our Attorney Directory.