To get assets into your trust, you need to either retitle the assets or use a non-probate transfer technique.

For immediate transfer into your trust, you will need to retitle the asset in the name of the trustee, referencing also the trust name and creation date. This will look different based on the asset you’re dealing with. For a house, this occurs on a new deed. For a bank account, you will likely need to visit your local branch to change the name on your account. For an investment account, you will need to either fill out a beneficiary designation form or contact your financial manager. Etc. Etc.

For a transfer into your trust to occur after death, you will need to name the trustee, the trust itself, or possibly a sub-trust within your main trust, as a beneficiary or successor beneficiary on the account. With certain assets, like retirement accounts, it’s important to handle this correctly… consulting an attorney or other professional is highly recommended. However, as general advise, your retirement accounts, annuities, and similar retirement assets will  not be placed in your trust while alive. And, as mentioned, consultation with an attorney or other professional on how to incorporate these assets with your trust is recommended.

If you do have a trust, you should be able to contact your drafting attorney for specific questions about transferring your assets into your trust. If you’re a client at Williams Legal Services, you may recognize some of this advise from our “Funding” conversations, which occur through the estate planning process.

That all said, if you have questions about how to get assets into your trust, and aren’t sure where to turn, feel free to schedule a free consultation through the link below.