So you created your trust… Great job!
How’s that funding going? Remember, a trust only avoids probate if it is properly funded. Any assets that are not owned by your trust, or any assets that do not name the trust as your beneficiary, could very well create problems if something happens to you.
Why talk about this now?
1. Assets change, move and get sold.
2. Because most are currently organizing records for tax time.
Forgot what funding means?
It is the transfer of title (or beneficiary) of your assets to the name of your trust. You will continue to have control of your property just as you did before you signed your trust. The only difference is that your property will be titled in the name of your trust.
Do I do the same thing with all my assets?
No. Check you portfolio binder section entitled “Funding Instructions” for a cheat sheet on everything from stocks, investment and bank accounts, life insurance, bonds, real estate, vehicles and even cemetery plots.
Can I get some help with this?
C.A.R.E. Members already do! Schedule your C.A.R.E. Review and we’ll walk through your funding in detail. Not on C.A.R.E.? Contact us to find out how we can help.
Keeping all of your assets titled in the name of your living trust is a life-long process. However, the rewards of keeping your trust fully funded should outweigh any minor inconveniences you incur along the way. As always, don’t hesitate to contact us with your questions.
Let The Funding Begin!