If you’ve already created a trust, you’ve taken a big first step toward protecting your legacy. But now, a new question emerges—how do you move your assets into it? For many Georgia families, this is where uncertainty sets in. You might feel worried about whether you’re doing it right or unsure of what steps to take next.
At Chandler Law, we’ve helped countless families across Georgia feel confident about their estate plans. We recognize that for many, estate planning can feel intimidating. And, the process of moving assets into a trust may not be as simple as you think. This guide breaks it all down, so you can move forward with clarity and peace of mind.
What “Funding” a Trust Really Means
Creating a trust is only the first part of securing your plans for the future. For a trust to work as intended, your assets need to be legally transferred into it. This step is called “funding” the trust. If the trust is not funded or only partially funded, it will not work as you designed it to work.
Think of a Trust Like a Basket
A trust works like a basket designed to hold and protect your belongings. But, unless you actively place your items into that basket, they won’t be covered. You could have an excellent trust document, but without funding it, your assets might not receive the protections you intended.
Common Types of Trusts
Revocable living trusts are some of the most common trusts, especially for people or families managing estates in Georgia. These types of trusts are flexible and allow you to retain control over your assets while you’re alive. However, they all need to be funded correctly to manage and protect the items and people they were created for.
Why Putting Assets Into a Trust Is So Important
You may wonder, “Why is this such a big deal? What happens if I skip this step?” Funding your trust offers several important benefits for you, your loved ones, and the fulfillment of your wishes.
Avoiding Probate
Assets left outside your trust may still have to go through the Probate Court system, adding time, expense, and stress for your family. Proper funding helps you to avoid probate, making sure your loved ones can smoothly access what they need when they need it.
Keeping Your Intentions Clear
If your assets aren’t in the trust, they might not follow the instructions you provided. Leaving property or accounts out of the trust can lead to disputes and confusion.
Reducing Stress for Your Family
Taking the time to move assets into your trust helps lessen the burden for your loved ones. Your efforts now can prevent delays and possible disagreements in the future.
How to Put Assets Into a Trust in Georgia
You don’t have to be an expert to fund your trust—just follow this 7-step-by-step process.
1. Review the Trust Document
Start by re-reading your trust document. Pay attention to who the trustee is and what their role involves. This will clarify any additional steps necessary during the funding process.
2. Create a Checklist of Your Assets
Make a detailed inventory of your belongings. Include things like bank accounts, real estate, investments, personal property, and any business interests.
3. Retitle Real Estate
To transfer real estate, you’ll need to update the deed to reflect the trust as the new owner. Be sure to have this properly recorded to avoid complications later.
4. Assign Financial Accounts
Work with your bank or financial institution to retitle checking, savings, or brokerage accounts into the name of the trust. For certain accounts, you may also name the trust as a beneficiary.
5. Transfer Personal Property
Items like jewelry, furniture, and keepsakes can usually be transferred using a simple written assignment describing the property and noting the trust as the owner.
6. Handle Retirement Accounts and Life Insurance Carefully
With retirement accounts (like IRAs or 401(k)s), it’s not always a good idea to move them directly into a trust. However, naming the trust as a beneficiary may make sense in some situations. Talk to a professional to determine the right fit for your needs.
7. Keep Records Organized
Keep copies of all documents related to the transfers in one place. Share them with your trustee to make things clear for the future.
Not All Assets Should Go Into a Trust
It’s a common misunderstanding that everything you own should be moved into your trust. But certain assets are better left outside.
Assets to Consider Placing in a Trust
- Your home and any other real estate properties
- Bank accounts (non-retirement)
- Investment accounts not tied to retirement plans
- Business interests
Assets to Usually Leave Out
- IRAs, 401(k)s, and pension plans
- Health Savings Accounts (HSAs)
- Vehicles (in some cases, depending on state rules)
One-size-fits-all rules rarely apply, so consider speaking with an attorney to determine which strategy works best for you.
Avoid These Costly Missteps
Even a small mistake in funding your trust can cause big issues down the line. Here are some common errors and how to avoid them.
Not Finishing the Process
It’s easy to create a trust and forget to fund it. But without properly moving assets into the trust, it won’t function the way you intended.
Forgetting to Update It
Life changes like new properties, accounts, or family circumstances require you to update your trust so those new assets are fully covered.
Failing to Review Titles Carefully
If the paperwork transferring ownership isn’t accurate, it can undo the protections your trust provides. Double-check all details!
DIY Shortcuts
Handling the process on your own can lead to issues down the road. Incorrect titles, deeds, or documentation might block your trust from working properly.
You Don’t Have to Do This Alone
Feeling hesitant about funding your trust is completely normal, and you don’t have to handle it by yourself. At Chandler Law, we’re here to help every step of the way.
