What is Trust Funding and why does it matter?

When designing an estate plan the attorney may suggest establishing a trust as part of your plan.  A trust is a fiduciary relationship, whereby the trust holds the title to property or assets for the good of a third party, the beneficiary. There are several types of trusts and selecting the right trust will depend on your situation and planning goals. 

Not All Elder Law Firms are Equal

When a client uses the services of an elder law firm to draft a trust one might assume when the documents are signed the trust is active and the process is complete. Unfortunately, that is not the case and often leads to legal problems down the road. After the signing of the trust all named assets must be successfully transferred into the name of the trust. The steps to transfer ownership of assets will vary depending on the assets named in your trust.

Set for Success with Funding Assistance

At Maser, Amundson & Boggio it is our firm’s belief that if we do not assist with the funding process and assume the client will complete the process on their own, then we are setting them up for failure. It’s that simple. The trust only works as planned if the assets are retitled or beneficiary designated to the trust. 

When working with our team at Maser, Amundson & Boggio we not only help you on designing a trust to fit your goals and needs, but we will also work with you to make the necessary changes to fund your trust. Our three-month funding program begins at the signing meeting and includes a 45-day and three-month status report on the funding of your assets.  

Full-time Funding Coordinator on Staff

We know the funding process can be challenging and time consuming which is why we staff a full-time in-house funding coordinator to work one-on-one with our clients from start to finish. This process starts with the initial intake form given prior to your first meeting with an attorney.  The data you provide during intake will help the team build the appropriate plan and prepare the necessary paperwork to start the funding process.