Trust funding is a vital aspect of establishing a trust. Estate planning attorneys, who assist in creating trusts, may or may not handle the funding process. Properly titling assets is a key step in establishing a trust correctly. In the realm of trust administration, addressing issues related to funding is a common task.

For instance, someone may own a home with the intention of holding it in the trust to avoid probate. During the trust administration process, if it is discovered that the home was not properly funded into the trust, steps can be taken posthumously to rectify this. Unfortunately, there are instances where assets may need to go through probate.

To ensure that assets are appropriately funded into the trust, individuals should regularly check account titling and review named beneficiaries. Verification of policies with named beneficiaries is crucial to ensure they align with the intended distribution. After significant events like refinancing or acquiring new assets, individuals should revisit the trust. People who establish trusts and undergo life changes, such as buying a new house or acquiring additional assets, should periodically review the trust. Consulting with an attorney during these reviews can help identify any necessary amendments or changes in addition to addressing funding concerns.