Trust Funding in Loudoun County

Trust funding is the process of transferring ownership of assets to a trust. When a trust is created, the trustor (also known as the settlor or grantor) transfers ownership of their assets to the trustee, who holds and manages the assets for the benefit of the trust beneficiaries. This transfer of ownership is known as trust funding.

Trust funding can be a complex process, and it is important to properly fund a trust to ensure that it is effective and achieves the intended goals. Trust funding typically involves transferring ownership of assets such as real estate, bank accounts, securities, and personal property to the trust. It may also involve changing the ownership of certain assets, such as a business, to the trust.

Proper trust funding requires careful planning and attention to detail. It is important to work with an experienced estate planning attorney to ensure that the trust is properly funded and all necessary documents and steps are completed.

Contact us to learn more about how we can help you and your loved ones with estate planning.

There are several steps you can take to ensure that your trust stays funded:

• Review your trust regularly to ensure that it accurately reflects your current assets and wishes. This may involve updating the trust to add new assets or remove assets that are no longer owned.
• Transfer ownership of assets to the trust: This may involve transferring ownership of real estate, securities, bank accounts, and other assets to the trust.
• Obtain appropriate documentation: To transfer ownership of assets to the trust, you will typically need to obtain and sign the appropriate documentation, such as a deed for real estate or a transfer form for securities.
• It is important to keep good records of the assets that are held in trust, as well as any changes that are made to the trust. This will help ensure that the trust stays funded and that your assets are properly managed.

It’s important to work with an experienced estate planning attorney to ensure that your trust stays funded and that all necessary steps are taken to protect your assets and achieve your estate planning goals.

Contact us to learn more about how we can help you and your loved ones with estate planning.

If you need help understanding how to title your assets, our team is here to assist you.

We can also provide you with a card that shows the name of your trust, which you can use when opening a new bank or investment account. You don’t need to worry about transferring ownership of assets that don’t have a title, such as new furniture, appliances, or roller skates.

Contact us to learn more about how we can help you and your loved ones with estate planning.