Long Beach Estate Planning Attorney Helps With Funding Property Into a Trust
We Help Fund Properties Into a Trusts
Funding Property Into a Trust:
The transfer of your assets to your trust is the process called “funding the trust.” To do this, you physically change the names/ titles of your assets from your name to the name of your trust. If you are married, you and your spouse might change the titles of your jointly owned assets to your joint trust or to each of your individual trusts, whether in equal or unequal portions.
Funding your trust is important because it can help your heirs avoid probate. For example, if you have signed your trust agreement but have not changed titles and beneficiary designations, you are unlikely to avoid probate. Such a lack of clarity in the trust agreement can often lead to litigation and confusion. The trustee of the trust can only immediately reach and control the assets you have put into the trust. You may have a great trust, but until you fund it (that is, transfer assets to it), you have much of nothing. This is done by changing titles of assets, or designating a beneficiary or beneficiaries.
If your goal in having a living trust is to avoid probate at death and court involvement at incapacity, then you must fund it now, while you are able to do so.
To fund your property into your trust you will likely need an attorney with experience to help.
At the Michael Gaston Law Firm, we have decades of experience helping clients manage their living trusts. We can help you fund your trust with your assets, real estate, etc. to help you avoid probate.
We want to help you protect your assets and your family, so you can relax with the peace of mind that comes from knowing you have a solid estate plan in place written by our professional estate planning lawyer.
Start planning for your future by contacting us today.