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.
