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.