Mark Glendon

3 Assets That Can Fund a Trust

Creating a trust can be a wonderful way to preserve your legacy after your passing. A trust is usually set up to protect certain assets that are designated to be passed along to a named entity after death. Trusts can also allow certain assets to be passed along to entities while you are still living so long as certain conditions are met.

In either case, a trust helps to ensure that your assets go where you want them when you want them to go. Additionally, setting up a trust can provide security for your loved ones while adding a degree of anonymity to the probate process. You may be able to avoid much of the hassle of probate when you utilize a trust to pass along assets.

Below are three assets that are often used to fund trusts:

Real Estate

Real estate is one of the most common types of assets used to fund trusts. When you place real estate into a trust, doing so not only protects your real estate investments from needless litigation upon your passing, but you can also help to protect the privacy of the entity or entities receiving the property.

Stocks

Stock investments can be put into trusts as well. Adding a stock portfolio to a trust can be a great way for an investment to grow. When the time is right, the trust can be accessed by the designated entity or entities for financial security in the future.

Certificates of Deposit

Certificates of deposit (CDs) are another wonderful option for funding a trust. These investment vehicles can offer additional financial security to loved ones down the road and can take a lot of hassle out of probate. To know more about funding your trust in New York City, visit this website.

Use the Right Attorney

You'll likely want to involve a local estate planning attorney in the establishment of any trust you set up. A local attorney will know the laws and regulations regarding trust issues in your specific region. In NYC, you'll want to know about funding your trust New York City laws regulate.

Like other cities and areas of the country, New York City may have special regulations regarding the establishment and funding of trusts. By working with an attorney, you'll know about funding your trust New York City laws regulate without having to worry about missteps along the way.

Author Resource:-

Mark writes often about estate planning. His articles may include topics like real estate closing attorney and business succession laws to help the people in needs. You can find his thoughts at estate planning blog.