Thursday, February 23, 2012
The trust funding process is very important. Intervivos trusts need to be fully funded with the appropriate assets. If you fail to full fund your trust, or fund your trust incorrectly, your estate may incur significant problems. The following is general information. When funding a trust, always consult an attorney. If you have questions, give us a call.
Typical Trust Funding Techniques
Real Property --> Deeded to Trust
Furniture & Personal Effects --> Assignment to Trust
Bank Accounts --> Title to Trust w/ Certificate of Trust
Investment Portfolio --> Title to Trust w/ Certificate of Trust
Bank Savings & Investment Accounts --> Title to Trust w/ Certificate of Trust
Stocks & Bonds--> Title to Trust w/ Certificate of Trust
Business Interests --> Assignment to Trust
Power of Appointment--> Executed in favor of Trust
Typical Trust Funding Techniques (Delayed or Contingent Funding)
Life Insurance --> Trust as Primary Beneficiary
Retirement Benefits --> Trust as Primary Beneficiary
The Lenzi Law Firm, PLLC assists clients throughout Northern Virginia and Washington D.C. including Fort Washington, Falls Church, Ft. Myer, Vienna, Rosslyn, Springfield, Mount Vernon, Annandale, Fort Belvoir, Fairfax, Dunn Loring, Merrifield, McLean, Oakton, Reston, Burke, Great Falls, Fredericksburg, Stafford and Herndon in Arlington County, Alexandria County, & Fairfax County.