Creating a Revocable Living Trust is only the first step — properly funding the Trust is what makes it effective.

Creating a Revocable Living Trust is only the first step — properly funding the Trust is what makes it effective. Funding means transferring ownership of your assets, such as real estate, bank accounts, and investment accounts, into the name of the Trust so they are controlled according to the Trust’s terms. If assets are left outside the Trust, they may still have to go through probate, undermining one of the primary benefits of having a Trust in the first place. Some assets, like retirement accounts, are typically not retitled but instead coordinated through beneficiary designations to align with the overall estate plan. While the process can involve paperwork and coordination with financial institutions, taking the time to properly fund your Trust ensures a smoother transition for your loved ones and helps carry out your wishes efficiently.

If you have questions about Revocable Living Trusts, or any other aspect of estate planning, give us a call at 253.858.5434 to set up an appointment today.