Time to Review Your Trust Funding

As we start a new year, you should review your revocable trust to make sure that it is properly funded. Revocable trusts only work properly when they are fully funded. The Schedule A on your trust should list all of your trust assets. If we drafted your trust, you should have a tab in your estate planning notebook that is titled "Trust Assets." Behind this tab, you should keep documents showing that assets have been transferred to your trust. This should include items such as deeds, your assignment of personal property, and confirmation that your brokerage accounts have been transferred. If you have not completely funded your trust, or you have bought new assets that need to be transferred to the trust, now is the time to get the job done. If you need to make modifications to your trust or need help with funding certain assets, give us a call.