Five Facts About Trust Funding

"Funding a Trust" is the act of putting assets into a trust. In today's video we look at five facts about trust funding that I have been seeing in my practice:

1. Trust funding is not just for Revocable Living Trusts;

2. Trusts are a 'legal fiction' and we need to treat them as such when funding them;

3. There are two ways to fund a trust: changing the ownership of an asset and making a testamentary transfer;

4. Retirement accounts are to NEVER be owned by a trust; and

5. If you forget to fund your trust during your lifetime, there are certain remedies.