After forming a trust, this is where most people go wrong.

After forming a trust, this is where most people go wrong. This step is very crucial. You have to actually fund the trust. Not funding the trust is like leaving an empty treasure box. If your assets are outside of the treasure box, they have to go through probate, even though you had a trust. So let me show you how. Put your primary residence in a trust and the attorney will draft a quick claim deed. This transfers title from your personal name to the name of the trust and records it with the registry of deeds to reflect the new owner. If you own an investment property, the first step is to put the property in an LLC and then assign the LLC membership interest to the trust using an assignment of transfer document and amending your operating agreement. If you have a business like an LLC, the same theory applies. You can assign the membership interest to the trust using an assignment of transfer document and also don't forget to amend your operating agreement. Bank accounts, you can leave in your own personal name, but be sure to fill out a payable on death form and name your trust as a beneficiary. You should also have a financial power of attorney in case of incapacitation. For life insurance policies, you can list your trust as a beneficiary as well, so that upon your death, the proceeds of the life insurance policy go to the trust and get distributed according to the terms of the trust. It's like the tree that keeps on giving. And for personal property like furniture, jewelry, clothing, things that don't have a title, this can be transferred to the trust using an assignment of personal property document that assigns all of your property to your trust. And if you're interested in knowing more about this topic, comment the word class.