What Does It Mean To Fund A Trust?

Coleman Law Firm

Attorney Jeffrey P. Coleman explains how to fund a trust and why it is necessary fund it for an effective estate plan. 

 

Video Transcript:

In order to fund the trust it’s necessary to place assets into that trust. Think of it as some kind of container that you’re using to transfer assets from one place to another: that container might be a very nice container but if you don’t put anything into it, it won’t be effective. The way you fund a trust is by transferring the accounts into the trust. Depending upon the firm, the bank, or the asset, this can be done in a number of ways. Most banks and brokerage firms have now become accustomed to the process where assets are placed into a trust; and they will have pre-printed forms that you can fill out and provide to them so that your assets can be re-titled and the accounts can be transferred into your trust.

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