What does it mean to fund a trust?

Funding a trust means legally connecting property to the trust. This may require a deed, account retitling, assignment, beneficiary change, or another institution-specific step.

General information

• Listing an asset on a schedule may be useful but may not transfer legal title.
• Different assets use different transfer methods.
• A transfer can affect loans, taxes, insurance, or contracts.

Service steps to consider

1. Asking each institution for its trust-transfer process.
2. Keeping proof of completed changes.
3. Possible resource or approach: expert advice for high-value or restricted assets.

Quick check

• Is the asset in the trust's name?
• Did the bank or county record the change?
• Did I save proof?

How Complete Wills can help

Complete Wills' trust-based package includes a revocable living trust, schedule of assets, certification of trust, pour-over will, power of attorney, health-care directive, and HIPAA authorization. The service can prepare documents from customer answers. But the customer remains responsible for signing and for properly funding the trust. Customer support can explain website features and questionnaire fields, but it cannot choose documents, people, distributions, or legal terms, interpret a completed document, or explain how the law applies to a person's facts. Only a separately engaged licensed attorney may provide legal advice within the attorney's engagement.

Important limits

• A trust controls only property legally connected to it. A schedule alone may not change title.
• Get legal, tax, or financial advice before transferring retirement accounts, business interests, mortgaged property, foreign property, or assets with transfer restrictions. This article gives general information only. A licensed attorney can explain how state law applies to a specific estate plan or document.