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Trusts Have to Be Funded … It Is that Simple

Posted by Nina Whitehurst | Jun 25, 2018 | 0 Comments

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You may create a trust online or in other ways, but is your trust funded?

Trusts must be funded, but that does not mean just putting money in them. It means transferring the title of property to the trust, according to the Times Herald-Record in "How to transfer assets to a trust."

Transferring title of property differs for different types of assets. However, it does not need to be difficult for any asset type. It is mostly a matter of filling out the right paperwork and getting that paperwork to the proper authority. For example, when you purchased your home, the title was transferred to you and registered with your local Register of Deeds. You just need to do the same thing for the trust this time.

There is someone who can help you make sure that your trust is properly funded. That is an estate planning attorney who knows how to transfer title in different asset types. This is one reason why it is better to hire an attorney to create a trust, instead of using a cheaper service.

Reference: Times Herald-Record (May 31, 2018) "How to transfer assets to a trust."

About the Author

Nina Whitehurst

Attorney at Law Nina has been practicing law for over 30 years in the areas of estate planning, real estate and business law She is currently licensed in Alaska, Arizona, California, Colorado, Oregon and Tennessee. Her Martindale-Hubbell attorney rating is the highest achievable: 5 stars in peer...

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