what is trust funding

Whether you have a Trust from our firm  or a previously existing Trust, it’s crucial that it is properly funded.

What is Trust Funding? 

The process of transferring your assets into your Trust is called “funding” your Trust.  In order for your Trust to meet your planning goals and to avoid probate of your assets, it is critical that your assets be titled in the name of your Trust.   

There are several steps that must be taken, as well as paperwork to be completed and signed – this is an essential step in your plan if you have a Trust! For example, an unfunded or partially funded Revocable Living Trust  does not avoid probate.  There is a definite advantage to having us fund your Trust for you, versus the time and effort you will have to spend to do it yourself.  

Fund your Trust the hassle-free way:  Let us do it for you! 

Funding your Trust takes time. The time that you could better spend doing something else – making money, spending time with family, or just plain relaxing. Funding your Trust also requires the completion of numerous documents for your bank, insurance company, and other financial institutions.  If you fill the paperwork out incorrectly, you risk making your entire estate plan ineffective! 

There are two options for funding your Trust: 

1. Fund your Trust yourself  (approx. 20-25 hours of work, phone calls, filling out documents, and hoping you did it right); or

2. Monteforte Law, P.C. will do the Trust funding for you.

Most clients prefer that we do the Trust funding, because of the number of hours involved in calling and writing to the bank and other institutions, completing the institution’s confusing paperwork, which is different for each bank and insurance company, and filing the paperwork to accomplish the funding. However, some clients do prefer to undertake this themselves.  

What are the  benefits  of having Monteforte Law fund your Trust? 

  • We make it hassle-free by handling all calls and letters for you. 

  • We complete all paperwork, and all you have to do is sign. 

  • We provide written authorizations so that your financial institutions can deal with us, not you. 

  • We know what we’re doing – the paperwork will be filled out correctly so that your Trust is properly funded. 

  • We follow up with the banks and insurance companies to obtain confirmation of the changes. 

  • We do it right – you don’t have to worry about filling something out wrong. 

  • We stay on top of it, so nothing slips through the cracks, and take the whole thing off your plate. 

If you need help with Trust Funding call our firm at 978-657-7437 or book a Startegic Planning Session with one of our attorneys!

Michael Monteforte, Jr.
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People come to me in trying times and when I tell them I can help them, the weight falls off their shoulders.