Roseville, CA estate planning & probate attorney Rick Lebherz talks about how to ensure that a trust is properly funded and that the assets are managed in a way that benefits the beneficiaries. Trust funding plays a crucial role in trust establishment, and estate planning attorneys involved in trust creation may or may not handle the funding process. Properly titling assets is a fundamental step in ensuring the correct establishment of a trust. In the field of trust administration, dealing with funding-related issues is a routine task.

Consider a scenario where an individual owns a home with the intention of including it in the trust to avoid probate. In the course of trust administration, if it is discovered that the home wasn’t adequately funded into the trust, posthumous steps can be taken to address this matter. Unfortunately, there are situations where assets may need to undergo probate.

To guarantee the appropriate funding of assets into the trust, individuals should regularly check account titling and review named beneficiaries. Verification of policies with named beneficiaries is essential to ensure alignment with the intended distribution. After significant events like refinancing or acquiring new assets, it is advisable for individuals to revisit the trust. Those who establish trusts and experience life changes, such as buying a new house or acquiring additional assets, should periodically review the trust. Seeking advice from an attorney during these reviews can assist in identifying necessary amendments or changes and addressing any concerns related to funding.