How do I put money and assets in my Trust?

- Authored by:  Michael L. Rutkowski

Putting money and assets in a Trust is typically referred to as the process of “funding” a Trust.  Only assets that are “funded” in the Trust will have the Trust protections and follow the plan created within it.  The process of funding the Trust is so often overlooked, but is truly just as important as creating the Trust itself.

In our practice, we review old Trusts drafted by other attorneys every day.  During an initial consultation with clients, we conduct a financial audit to assess where assets are currently held and, more often than not, we find that the existing Trust is unfunded or improperly funded.  An unfunded or improperly funded Trust subjects non-trust assets to probate, a process most individuals are attempting to avoid by creating an estate plan.

At the Rutkowski Law Firm, we move beyond simply creating a Trust and fund the Trust for our clients. Every asset, insurance policy, retirement account, cash account, and piece of real property are given individualized treatment when it comes to funding. We discuss with our clients the goals with regard to each asset, determine how those goals can be met, and make collaborative decisions regarding how each asset transitions into the Trust.  For a FREE consultation regarding a Trust and financial audit, please contact our office to make an appointment.