How trust funding works, asset by asset
Real estate: prepare and record a new deed transferring the property from you to the trust.
Brokerage and bank accounts: retitle into the trust's name with the institution's standard paperwork.
Business interests: assign LLC or partnership interests via formal assignment and update the operating or partnership agreement.
Life insurance and retirement accounts: update beneficiary designations — for retirement accounts, only after modeling the SECURE Act 10-year rule with your CPA.
Common mistakes we fix
Trusts signed five years ago with nothing ever retitled.
Out-of-state real estate left in individual name, triggering ancillary probate in a second jurisdiction.
Naming the trust as IRA beneficiary without conduit/accumulation drafting, accelerating income tax.
Failing to update beneficiary designations after a divorce or remarriage.
New York, New Jersey & Ohio considerations
New York: NYC real estate transfers require RPT and ACRIS filings; co-op transfers need board approval and proprietary lease assignment.
New Jersey: deed transfers are coordinated through the county clerk and may interact with the realty transfer fee — most intra-trust transfers are exempt.
Ohio: real estate is funded via deed or Transfer-on-Death affidavit; we choose based on the rest of your plan.
How Legacy Counsel helps
We do the funding work — not just hand you a checklist.