How do I fund my Trust?
What it Means to Fund Your Trust
If you've created a Trust, you've taken a meaningful step toward protecting your family and securing your legacy. But here's something many people don't realize: a Trust doesn't actually do its job until it's funded.
Funding a Trust simply means transferring your assets into it. Until you do that, the Trust is a bit like a beautifully built house with no one living inside. The structure is there, but it isn't yet serving the purpose you intended.
Why Funding Matters
A Trust can only control the assets that are actually placed in it. If your home, bank accounts, or investment accounts are still held in your own name, they may not pass to your loved ones the way you planned. In many cases, they could end up in probate, the very process your Trust was designed to help your family avoid.
This is one of the most common pitfalls we see, and it's one of the reasons we built our firm the way we did. When you create a Trust Plan with Simpson Law Firm, we include a deed to your primary residence in the Carolinas and give you guidance on how to ensure your assets align with the plan you’ve worked to created with us.Properly funding your Trust is a key part of making sure your plan works when your family needs it.
What Funding Can Involve
Funding looks a little different for everyone, but it often includes:
Retitling real estate, such as your primary home or a vacation property in the mountains or at the coast, into the name of your Trust
Transferring bank and investment accounts
Updating beneficiary designations on certain accounts
Reviewing how newly acquired assets should be titled going forward
Each of these steps helps ensure that the people and causes you care about are provided for, exactly as you intended. If you plan with us, your attorney will walk you through how best to ensure your assets align with your Estate Plan.
We're Here to Help
Funding a Trust can feel overwhelming, but it doesn't have to be. Our team is here to walk alongside you, answer your questions, and make sure nothing falls through the cracks. And because life keeps changing, we offer check-ins every three years so your plan can evolve right along with it.
If you’ve recently created a plan with us and want to make sure your Trust is fully funded (or if you’re ready for your three-year review), we’d love to hear from you.
What You Can Do Right Now
If you have trust funding questions about a plan you’ve recently created with us, you can call us at (803) 764-9555. If you don’t have a plan and are ready to take the next step in protecting your family, schedule a free consultation with us today by clicking here or call us at (803) 764-9555.
This article is a service of Simpson Law Firm. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death for yourself and the people you love. We offer a free Estate Planning session, during which you will get more financially organized than you’ve ever been before and we will assist you in making all the best choices for the people you love. You can begin by contacting us here, https://simpsonestatelaw.com/contact-us or calling us at 803-764-9555, and our friendly team will help you set up your consultation.
This material was created for educational and informational purposes only and is not intended as ERISA, tax, legal, or investment advice. If you are seeking legal advice specific to your needs, such advice services must be obtained on your own separate from this educational material.