A: Trust funding is the process of transferring assets into a trust. After creating a trust, the next step is to ‘fund’ the trust with assets. This could involve moving money into a bank or investment account held in the trust’s name and transferring titles of properties to the trust. The trust only has authority over the assets that have been formally transferred to it. If assets aren’t properly funded to the trust, they won’t be part of the trust estate, which could unfortunately lead to a probate.
Q: What does trust funding mean?
by Rose Law Firm of Napa Valley, Inc. | Aug 2, 2023 | Estate Planning, Q&A |
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