A Practice of Jacobs Counsel LLCServing NY · NJ · OH — Vol. 2026
Legacy Counsel
Trust FundingLegacy Counsel

Trust Funding: The Step Most Plans Skip

A trust controls only the assets it actually owns. We see beautifully drafted trusts that hold nothing because no one ever retitled the house or the brokerage account. Funding is not paperwork — it is what makes the plan real.

Key Points

  • ◆Deed real property into the trust (and out-of-state property to avoid ancillary probate)
  • ◆Retitle financial and brokerage accounts
  • ◆Review and update beneficiary designations on retirement and insurance (rarely should the trust be the outright beneficiary)
  • ◆Assign LLC and partnership interests with consent of the operating agreement
  • ◆Maintain a funding log and review annually

What does and does not need to go into the trust

Real property, taxable investment accounts, business interests, valuable personal property, and out-of-state assets typically belong in the trust. Retirement accounts (IRAs, 401(k)s) usually should not — naming the trust as outright beneficiary can accelerate income taxation. Instead, designate individuals or use a properly drafted see-through trust.

Funding is ongoing, not one-time

Every time you open a new account, buy property, or change beneficiaries, the funding plan needs to follow. We include funding instructions in every engagement and offer annual review as part of our ongoing client program.

Related

Next Step

Talk to Legacy Counsel.

Fixed-fee estate planning for clients in New York, New Jersey, and Ohio.

Drew Jacobs is licensed in New York, New Jersey, and Ohio. Nothing on this page constitutes legal advice or an offer to represent you in a jurisdiction in which we are not licensed.

Prospective Client Disclaimer. Submitting this form does not create an attorney-client relationship. Do not send confidential or time-sensitive information until we have signed an engagement letter. We will review your submission and follow up to discuss whether we can represent you. By submitting, you consent to be contacted about your inquiry.