December 2018
Beginner
432 pages
12h 30m
English
Content preview from Estate & Trust Administration For Dummies, 2nd Edition
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Chapter 11
Funding the Trust
IN THIS CHAPTER
Moving assets into the trust while the grantor is alive
Reregistering existing assets
Funding a trust after the grantor’s death
The trust instrument has finally been signed. You’ve agreed to serve as trustee and have also had a chance to look over the provisions of the trust, so you probably have a good idea what you may and may not do as trustee. Now you have to identify the property that belongs in this trust and figure out how you’re going to move it from point A (the grantor’s possession) to point B (the trust).
This chapter explains how to transfer all sorts of property and what special considerations you need to make allowances for. We show you how to make sure that the transfer process is smooth and alert you to possible gift tax consequences for transfers made during the grantor’s lifetime.
Putting Assets in Trust during Life
If you’re the trustee of a trust whose grantor is still living, or if you’re both trustee and grantor of a trust that’s ready to start operations, you’re probably ready to start moving assets (items of value owned by any entity) into the trust. For example, the grantor may have designed the trust to avoid ...
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