I Signed My Trust, Now What? Here’s What to Do Next
If you just signed your living trust and you’re thinking, “Okay… now what?” you’re not alone.
Here’s the part most people aren’t told clearly:
Signing your trust creates the plan. Funding your trust makes the plan work.
What does “funding” mean?
Funding means making sure your assets are either:
- titled in the name of your trust, or
- set up to pass correctly through beneficiary designations
Think of your trust like a bucket. Signing creates the bucket. Funding is putting your assets into it. If assets stay outside the trust, your family may still face probate for those assets—even though you have a trust.
Below is a simplified checklist of the most common items, followed by why many families choose to work with a law firm like KLG to help.
The “Now What?” Funding Checklist
1. Bank Accounts (Non Retirement)
Checking, savings, money market, and non qualified CDs.
What to do:
- Bring your Certificate of Trust to your bank and ask them to retitle the account into your trust. You’ll sign as Trustee.
- Your printed checks usually do not need to change.
- If the bank makes retitling difficult, consider naming the trust as the POD (Pay on Death) beneficiary.
CDs:
- Ask about early withdrawal penalties. Many clients wait until maturity before retitling.
2. Brokerage Accounts (Stocks, Bonds, Mutual Funds)
What to do:
- Ask your brokerage firm to retitle the account into your trust (often one of the easiest updates).
- Physical stock certificates can take weeks to transfer. Ask your broker or transfer agent for instructions.
- Tell your broker to acquire future investments in the name of the trust.
Stock options:
- Talk to your CPA and plan administrator before transferring. Options can be restricted and tax sensitive.
3. Retirement Accounts (401(k), IRA, Pension)
This is one of the most common places people accidentally make mistakes.
What to do:
- Do not retitle retirement accounts into your trust.
- Update your beneficiary designations instead.
If your beneficiaries are minors, have special needs, or your family situation is complex, it’s smart to get guidance before submitting beneficiary forms so the designations match your plan.
4. Life Insurance and Annuities
What to do:
- Review and update beneficiary designations.
- In many situations, naming the trust as beneficiary is appropriate depending on your goals and family circumstances.
5. 529 Plans
What to do:
- If you want your trust to own a 529 plan, submit a Change of Plan Ownership form to the plan manager (rules vary by plan).
6. Real Estate
For many families, this is the biggest and most important funding step.
What to do:
- Transfer real estate into the trust by a recorded deed.
- Update homeowner’s insurance to reflect the trust where appropriate.
- For future purchases, tell escrow to take title in the trust from the start.
California notes:
- You may receive a Homeowner’s Exemption reapplication form after recording. Return it promptly.
- Ignore suspicious “official looking” deed solicitations. If you’re unsure, forward them to your law firm.
- If you receive a reassessment notice or supplemental tax bill that appears incorrect, contact your law firm immediately.
- Confirm title insurance coverage continues after transfer, especially for older policies.
7. Loans Owed to You (Notes and Receivables)
What to do:
- Assign your lender interest to your trust in writing and notify the borrower.
- Real estate secured notes may require a notarized and recorded assignment.
8. Personal Property (Including Vehicles)
What to do:
- Household items can be transferred via a written assignment.
Vehicles:
- Many clients keep vehicles outside the trust. Heirs can often transfer vehicles without probate, and trust ownership can sometimes affect liability perception and insurance. If you do title vehicles in the trust, confirm insurance impact first.
9. U.S. Savings Bonds / Bearer Bonds
What to do:
- Savings bonds: follow U.S. Treasury procedures for ownership changes.
- Bearer bonds: transfer by written assignment.
Trust Tax ID:
- A revocable living trust generally uses your Social Security number while you are living and serving as Trustee.
Why Many Families Ask KLG to Help With Funding
Funding is where estate plans either come together—or quietly fall apart.
Here’s the value of working with a law firm like KLG:
We help you avoid “accidental probate”
Most families fund “most things” and miss one important asset (often a home, a bank account, or a newly opened account later). One missed asset can still trigger probate. We help you identify what’s missing.
We make sure your real estate transfer is done correctly
Deeds must be prepared and recorded properly, and California rules matter. If the Assessor sends a confusing notice later, we know what to look for and how to respond.
We align beneficiary designations with your trust plan
Retirement accounts and life insurance usually pass by beneficiary form—not by your trust terms. If beneficiary designations don’t match the plan, the outcome can be very different than you intended. We help ensure everything works together.
We save you time (and reduce stress)
Banks, brokerages, and insurance companies all have different requirements. We help you move through it efficiently, without you having to guess whether you did it right.
Want Help?
If you’d like help funding your trust—especially real estate, beneficiary planning, or anything you’re unsure about—contact our office. We’re happy to help you finish the process so your plan actually protects your family and keeps them out of court.
