What Does It Mean To Fund A Trust
Funding a trust means transferring appropriate assets into the trust or naming the trust in beneficiary designations when suitable. A trust that is signed but not funded may not accomplish key goals, such as avoiding probate for certain assets. Funding should be reviewed after the trust is created and as assets change.
Video Transcript
Question: What Does It Mean To Fund A Trust?
Answer: Funding a trust means transferring appropriate assets into the trust or naming the trust in beneficiary designations when suitable. A trust that is signed but not funded may not accomplish key goals, such as avoiding probate for certain assets. Funding should be reviewed after the trust is created and as assets change.
This information is provided for general educational purposes for individuals and families considering estate planning, trust planning, incapacity planning, or probate matters in Boca Raton and throughout Florida. Every family situation is different, so legal documents should be reviewed with a qualified Florida estate planning attorney before relying on any general information.
What Does It Mean To Fund A Trust?
Funding a trust means transferring appropriate assets into the trust or naming the trust in beneficiary designations when suitable. A trust that is signed but not funded may not accomplish key goals, such as avoiding probate for certain assets. Funding should be reviewed after the trust is created and as assets change.
For help applying this information to your own estate plan, contact Cohen Samuels, PLLC in Boca Raton at (561) 600-1250.
