A common reason why even a well-drafted trust-based estate plan fails is improper funding. Funding refers to the process of transferring ownership of your assets into your revocable living trust. This includes assets like bank accounts, investment accounts, real property, LLC membership interests, stocks, bonds, vehicles, tangible personal property, timeshares, insurance beneficiary designations, and more.

It’s essential to regularly monitor and ensure your assets are properly titled. At Rowley Chapman & Barney, Ltd., our trust funding attorneys provide clients with a comprehensive Asset Detail Report to track their assets and confirm each has been properly funded. We also create a detailed funding portfolio, organizing assets and documenting proof of each asset’s transfer into the trust.

By following this process, families can ensure that their trust will work as intended and that their wishes are honored.