How to Set Up a Trust
This video walks you through the key steps to setting up a trust, from choosing the right type and selecting beneficiaries to working with an attorney and funding the trust, to help you plan your estate with confidence.
Video Transcript
How To Set Up a Trust If you're ready to begin end-of-life planning, take some time to think about how you want your estate to be handled. There are several advantages to creating a trust. Step 1: Decide on the Type of Trust You Need Step 2: Determine Which Assets Will Be in the Trust Step 3: Designate Your Trustee & Beneficiaries Step 4: Decide How Your Estate Will Be Distributed, the Duration of the Trust & Any Factors That Will Result in Termination of the Trust Step 5: Hire a Trust Lawyer to Draft the Contract Step 6: Finalize the Details with Your Attorney & Financial Advisor Step 7: Sign the Document in the Presence of a Notary Step 8: File the Deed of Trust with the State Step 9: Open a Trust Fund Account in the Name of the Trust Step 10: Fund the Trust by Transferring the Title of the Property Step 11: Register the Trust with the IRS Now You're Ready To Set Up a Trust!
