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How do I keep a trust funded?

A trust is a set of papers, and unless you do more than just sign it, it may not give it the force and effect that you want. The way that we make sure that it has force and effect is by putting things in it, or we “fund it”. It happens on a variety of levels with real property, meaning deeding the property into the trust. Gaudy Law handles that part. Financial institutions can transfer the asset, the bank account, etc. into the trust.

Making sure that it is funded is very important. We have had many situations where people come in and their loved one has died with a trust and that has nothing in it. At this point, they are in probate with a trust with nothing in it. That is where the do-it-yourself things get scary. Did you actually do it right?

Doing it correctly is important.

  • Does transferring a property into a living trust protect me from creditors or lawsuits?

    Unfortunately, transferring a property to a living trust does not protect you. One of the advantages of a living trust is that you can change it. The reason you can […]

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  • Can I do my estate planning through LegalZoom?

    What is the difference between me handling things myself using LegalZoom vs. coming here and working with you? As a person who is a do-it-yourselfer, I understand the urgent desire […]

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  • Should I discuss with my children how they fit into my trust?

    Should I have conversations with the people that I am planning to put into my trust? It usually comes down to children and many people completing this process are doing […]

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