Trust Funding Checklist

Creating a trust is only step one. An unfunded trust is just a piece of paper. Here's what you need to transfer into your trust and how to do it.

Real Estate

• Prepare a deed — transfer from yourself to the trust (e.g., "John Smith, as Trustee of the Smith Family Trust")
• Record the deed — file with the county recorder where the property is located
• Check your mortgage — review for due-on-sale clauses (Garn-St. Germain Act provides exemptions for transfers to revocable trusts)
• Update insurance — notify your homeowner's insurance that the trust now holds title
• Property tax — check for reassessment triggers in your state (revocable trusts usually don't trigger reassessment)

Bank Accounts

• Take your trust document (or Certificate of Trust) to the bank
• Open new accounts in the trust's name, or retitle existing accounts
• Update the account holder to: "[Your Name], Trustee of [Trust Name]"
• Get the bank's trust department forms if needed

Investment Accounts

• Contact your brokerage — they have trust account transfer forms
• Provide the Certificate of Trust (they usually don't need the full trust agreement)
• Retitle accounts to the trust's name
• Check beneficiary designations — some brokerages allow trust as beneficiary without retitling

Vehicles

• Check your state's DMV — some states allow trusts on titles, some don't
• Update the title to the trust's name
• Update insurance policy to include the trust as an additional insured
• If your state doesn't allow trusts on titles, consider transferring the vehicle as a gift of personal property via a written assignment

Business Interests

• LLC membership interests — assign your membership interest to the trust via a written assignment
• Corporate stock — transfer shares to the trust (check the shareholder's agreement for restrictions)
• Partnership interests — review the partnership agreement for transfer restrictions
• Sole proprietorships — transfer the business assets individually

Personal Property

• Use a general assignment of personal property — a single document that transfers all personal property to the trust
• List specific valuable items (jewelry, art, collectibles) with descriptions
• This covers furniture, electronics, tools, and other tangible personal property

Intellectual Property and Digital Assets

• Copyrights, trademarks, patents — assign to the trust in writing
• Digital assets — include language in the trust granting the trustee access to digital accounts
• Cryptocurrency — transfer to a wallet controlled by the trustee

Beneficiary Designations

Some assets pass by beneficiary designation, not by ownership. These include:

• Life insurance — you can name the trust as beneficiary (check with your attorney about tax implications)
• Retirement accounts (401k, IRA) — be careful; naming a trust as beneficiary can accelerate distributions. Usually better to name individual beneficiaries directly
• Annuities — review beneficiary designations

What NOT to Transfer

• Retirement accounts (401k, IRA) — usually keep individual ownership to preserve tax benefits
• Health savings accounts (HSAs) — cannot be owned by a trust
• Vehicles in some states — check local law
• Assets with existing liens or encumbrances that restrict transfer