FUNDING THE TRUST
Fund your trust in any of the following ways:
Direct acquisition by trustee --
- The trustee can purchase assets in the trustee's name.
- The trustee can open new accounts in the trustee's name.
- The trustee can accept title to assets in the trustee's name.
Assignment, transfer or deed --
Execute a document assigning or transferring to the trustee your ownership in any of the following types of property:
- tangible personal property
- automobiles, boats, recreational vehicles
- interests in limited liability companies, partnerships or corporations
- securities or shares of stock, bonds and funds
Execute a deed and transfer tax return transferring your home or other real estate to the trustee.
Beneficiary designation --
Name your trustee as primary beneficiary of all of the following:
- life insurance policies
- company retirement accounts (pensions, 401K plans, 403B plans, etc.)
- individual retirement accounts
- investment accounts
- bank accounts
By Will via the probate process --
Assets you own in your own name at the time of your death becom assets of your probate estate. Name the trustee as a beneficiary in your Will to all or a portion of your probate estate.