Trust Funding is the formal process of transferring assets to your Living Trust.  Trust funding is accomplished by changing asset title, beneficiary designations, or both.  Trust funding is very important to the success of the trust plan.  Assets must formally be transferred to the trust's control in order for the trust to manage them effectively and achieve the trust's objectives.  Regrettably, few living trusts are completely or properly funded when the trust plan is put in place.   Moreover, assets acquired during lifetime are rarely funded to the existing trust.  Unfunded trusts can result in the living trust plan failing to meet the very objectives it was designed to accomplish.  (See Importance of Trust Funding for more detailed information.)

 

Sometimes during the estate planning process, too little emphasis is placed on the importance of trust funding.  Often clients aren't aware of or don't fully appreciate the role of trust funding to the success of their estate plan.  Most clients simply lack the legal expertise, time, and knowledge to accomplish trust funding properly.   The FundingPro™ Trust Funding Software System furnishes estate planning attorneys with a professional trust funding system and process.  Attorneys use the FundingPro™ software and system to coordinate trust funding services for their clients and to attract and retain clients.  For those trust clients interested in self-funding help, our Fund My Trust web site provides clients with general trust funding information and valuable support.