Funding a trust involves transferring assets into the trust’s name or designating the trust as a beneficiary. This process ensures that upon your passing, the trust manages these assets. Essential steps include opening a bank account in the trust’s name and, crucially, transferring real property, like your home, into the trust.
This action is vital as it prevents the need for probate court involvement for what is often an individual’s most significant asset. My role typically includes assisting in this funding process, offering recommendations, and drafting deeds to facilitate the transfer of real property into the trust.