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Funding a trust refers to the process of transferring ownership of assets into the name of the trust. Although creating the trust document is an important step, the trust generally controls only those assets that are properly titled in its name.
An unfunded or partially funded trust is one of the most common estate planning oversights in California.
Without proper funding:
Under California Probate Code §§6400–6414, assets not properly titled may pass through intestate succession rather than according to the trust’s instructions.
Real estate is commonly one of the most significant trust assets.
The standard California transfer process generally involves:
The full legal description and APN are typically included on the deed.
Transferring property into a revocable trust generally does not trigger reassessment under Proposition 13.
Additional considerations may include:
Bank accounts, savings accounts, CDs, and brokerage accounts are commonly retitled into the trust’s name.
Financial institutions often require:
Business ownership interests may also be transferred into a trust structure.
Examples include:
Transfer restrictions may apply depending on governing agreements or licensing requirements.
Personal property is commonly transferred through an Assignment of Personal Property document.
This may include:
Maintaining a detailed inventory can simplify administration later.
Digital assets often require additional planning considerations.
Examples include:
Maintaining secure access information for trustees is commonly recommended.
Certain assets are often handled separately, including:
These assets frequently pass through beneficiary designations rather than trust ownership.
Common issues include:
These oversights can prevent the trust from functioning properly.
Funding is one of the most important aspects of trust administration. A trust document alone does not control assets automatically. Proper titling, coordination, and ongoing maintenance are necessary for the trust to function as intended.
Eric Hawkins is a California Legal Document Assistant. Legal Document Assistants are not attorneys and cannot provide legal advice, select forms for you, or tell you which documents you need. LDAs can only prepare documents at your specific direction after you've made decisions about your legal matters, ideally with guidance from an attorney.
Leaky Stamp is proud to be the go-to Notary & LDA who comes to you—day or night.
*WE'RE NOT ATTORNEYS!
We can only provide self help services at your
specific direction.
Note: Legal Document Assistants are governed
by the following Sections of the California
Business and Professions Code: 6400-6401.6,
6402-6407 and 6408-6415. 8200-8232.4
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