Funding your Trust
Creating a trust is a crucial step in building an estate plan. However, it is not the last step. In order to be effective, you need to fund the trust. Failure to fund the trust means the estate may have to go through probate and there will be no estate tax protections.
At the law firm of Patterson, Hanna & Associates, our attorneys can assist with the trust funding process. With more than 25 years of experience handling these matters, our lawyers understand how to make the process efficient and effective.
Transferring Your Assets
All of your assets are currently in your name. Your house, your bank accounts, your investments and all of your other assets have your name on them. Once a trust is created, you need to fund it by putting your assets into the name of the trust. Of course, since you are trustee of the trust while you are living, you will continue to manage and control your assets. However, if the trust is not funded, it will not be able to do what it was intended to do upon your death or incapacitation.
Our Office Will Assist You
After we have created your trust, our office will continue to work with you until your trust and your estate plan are in proper working order. We will help you review your assets to make certain that names are changed where appropriate. We will assist with all necessary documentation, such as change of beneficiary forms, stock transfer forms and registrations with mutual funds. We will make certain that nothing is overlooked as we create a trust and an estate plan that will provide you with the necessary asset protection.
Start With a Free Consultation
To schedule a consultation with our California estate planning law firm in Orange County, call us at 714-888-4834 or send us an e-mail.
