Understanding Funding Your Living Trusts
Why and How to Transfer Your Assets To Your Revocable Living Trust
- Introduction
- What is "funding" my trust?
- Who controls the assets in my trust?
- Why is funding my trust so important?
- What happens if I forget to transfer an asset?
- Who is responsible for funding my trust?
- Won't my attorney do this?
- How difficult is the funding process?
- Which assets should I put in my trust?
- Will putting real estate in my trust cause any inconveniences?
- What about out-of-state property?
- What about contaminated property?
- What about community property status?
- Should I put my life insurance in my trust?
- Should my trust own my car?
- What about my IRA and other tax-deferred plans?
- Are there any assets I should not put in my trust?
- What about property that doesn't have a title?
- What if I buy new assets after I fund my trust?
- Funding Your Living Trust (Summary)