If you are trying to protect your family from the time and trouble of Florida probate court, you may find a trust is the right estate planning strategy for you. However, the trust documents on their own are simply not enough. Unless your trust is funded, it is nothing but an empty legal entity and an expensive piece of paper.
At Harrison Estate Law, P.A. we aren’t satisfied to write up a client’s trust and send them on their way. We want to be certain that all our clients’ assets are fully protected. We offer comprehensive trust-funding services that give your trust documents the legal effect you mean them to have. If you need assistance going through the steps of funding your revocable trust in Gainesville or elsewhere in Florida, contact Harrison Estate Law for a complimentary consultation about how our experienced team can help you. We offer years of legal and practical knowledge and pride ourselves on friendly, responsive service — your calls and emails will be answered, and we'll be sure to keep you aware of the progress of your trust funding. Consultations by phone or Skype are available.
Properly funding a revocable trust is a very important step to make sure that you achieve all of the benefits of having one. It is generally not sufficient to simply sign a document which lists your assets and says they are now transferred to the revocable trust. Rather, you commonly need to "fund" the trust by making it the owner or beneficiary of your assets. After you have signed all the trust paperwork, you need to be certain your home, bank account, and other assets are properly transferred into the trust’s control.
When you create a trust but don’t fund it right away, there is a real risk that it could fall short of providing the protections you and your family expect. The primary benefit of a revocable trust is that it allows your assets to pass seamlessly from you to your beneficiaries (including your spouse, children, relatives, and friends) without the need to file probate. You do that by transferring the title of your house and bank accounts from you personally to the legal entity that is your revocable trust. However, the trust can only control assets it has title to. Anything that doesn’t make its way into the trust will still need to go through the Florida probate process.
However, the idea of going through all the steps and completing all the forms to properly fund your trust can be intimidating and confusing. At Harrison Estate Law, P.A., we give all of our estate planning clients a checklist of what to do to properly fund their revocable trusts. If you have difficulty, or simply don’t have the time, we offer a full range of trust-funding services, taking you through the process from start to finish. These services include:
We will prepare all the proper documents and be certain they are sent to the right people. We will even go with you to your bank so that everything is done properly to fund your revocable trust.
Then, when something happens to you and your trust management passes to your loved one, we will be there to make the transition as smooth as possible. Because we have provided all the necessary trust-funding services, we will have the information and documentation your successor trustee will need to take the reins and properly administer your financial needs and wishes.
Harrison Estate Law is happy to help you setting up and funding your revocable trust. Please contact us online or via email or call 352-559-9828 to schedule a free consultation. If you don’t live close to Gainesville we are happy to set up a phone or Skype call.