Creating a living trust is only the beginning. Funding is the process of connecting property to the trust through title, assignment, or coordinated beneficiary planning. Without it, the trust may not control the assets it was designed to manage.
Start with an asset inventory
- Homes, rentals, and other real estate
- Bank and nonretirement investment accounts
- Business and partnership interests
- Vehicles and valuable personal property
- Retirement accounts and life insurance
- Digital assets and contractual rights
Real estate usually requires a deed
Moving California real estate into a trust commonly involves a new deed and related documentation. The legal description, existing loan, insurance, property-tax rules, and ownership circumstances should be reviewed before recording.
Financial accounts are not all treated alike
A bank or brokerage may require its own trust certification and forms. Retirement accounts generally should not simply be retitled to a revocable trust; beneficiary designations and tax consequences need separate analysis.
Do not forget new property
Funding is an ongoing habit. When you open an account, buy real estate, refinance, or reorganize a business, ask how the change fits the estate plan.
Keep a record
Maintain copies of deeds, assignments, beneficiary confirmations, and account records with the estate-planning file. Gene Gleason helps clients identify which funding steps apply and when another professional should be involved.
This checklist is general information, not legal, tax, or financial advice.
Related from Gene: living trusts · Gene on funding a living trust. Questions about your own family? Please schedule a consultation with Gene.
