In this guide
- ✓What to do with your house, checking account, and other belongings
- ✓The difference between changing ownership and naming a beneficiary
- ✓Why retirement accounts need a separate review
- ✓Which records to save as proof of completion
You fund a living trust by moving ownership of things like your house and checking account into the trust. A trust doesn't control things you haven't put into it, so they can still go through probate, the court process for passing on property after someone passes (Santa Clara County court's guide).
Signing the trust papers is the start. Next, work with your attorney to decide what belongs in your revocable living trust and what needs a beneficiary form instead. Start with the trust funding checklist below, and keep a copy for your calls to the bank and other offices.
Trust funding checklist
Use this as a list to work through with your attorney, not an instruction to transfer everything. For each row, write down who's handling it and where you'll keep the final record. On a small screen, scroll the table sideways.
| The thing | What you do | What proves it's done | Who helps |
|---|---|---|---|
| House | Have a deed prepared and recorded for the planned transfer. See the deed and recording guide. | Recorded deed showing the trustee and trust | Attorney; county recorder |
| Checking and savings | Ask the bank to put chosen accounts in the trust's name. Review any payable-on-death choice separately. | Account statement in the trust's name, or beneficiary confirmation for a separate plan | Bank; attorney |
| Brokerage | Ask the firm for trust account paperwork for your non-retirement account. Review the ownership change with your attorney. | Statement showing the trust account title | Brokerage; attorney |
| Retirement accounts | Generally don't retitle your IRA or 401(k) into a living trust during life. Review beneficiaries using the IRS IRA rules and 401(k) rules. | Confirmation of the beneficiary choice approved for your plan | Attorney or CPA; account provider |
| Life insurance | Review who should receive the payout. If your plan calls for it, submit a trust beneficiary form. See NAIC life insurance guidance. | Insurer's confirmation of the beneficiary | Insurer; attorney |
| Car | Ask if a title change fits your plan and state rules. California has a trust transfer procedure. | Updated car title, if a transfer is chosen | State motor vehicle office; attorney; insurer |
| Business interest | Have your attorney review the business agreement and any approvals before preparing transfer papers. | Signed transfer papers and updated ownership records your attorney has checked | Business attorney; co-owners |
| Household items | Ask your attorney which signed paper covers your furniture, jewelry, and other belongings. Confirm what it includes. | Copy of the signed paper your attorney confirms covers the items | Attorney |
The state sources above describe California procedures. Have your attorney check the rules where you live before you sign or submit transfer papers.
Moving ownership or naming a beneficiary?
Those two jobs can look alike on a to-do list, but they happen at different times. Moving ownership puts the house or account into the trust now. Naming a beneficiary tells the provider who should receive money after you pass.
For example, a bank account held in your living trust differs from a payable-on-death account naming your trust as beneficiary. The California courts explain payable-on-death accounts. Ask your attorney and bank which choice matches your plan, then ask the bank to confirm it in writing.
Retirement accounts need their own conversation. You generally do not retitle an IRA or 401(k) into a living trust during life. An IRA has its own IRS account requirements; 401(k) benefits generally cannot be assigned to someone else. Naming your trust as beneficiary is a tax and legal decision for your attorney or CPA, because the choice can affect the rules for withdrawals after you pass (IRS beneficiary guidance; Publication 590-B).
Bring your IRA and 401(k) beneficiary forms to that meeting. Don't copy the beneficiary choice from a friend's plan.
What proof should I keep?
Once you've picked the right path for each thing, check the final record. A form you've mailed is still a task to follow up on.
For your house, save the recorded deed and ask your attorney to check the trustee's name and the property description against the planned transfer. California's deed recording guide explains how the public record shows title.
For checking, savings, or a brokerage account you've moved, request a statement in the trust's name. For life insurance or a retirement account with a beneficiary choice, save the provider's beneficiary confirmation. Put the date and record location beside the matching row in your checklist.
If the names don't match your plan, call the office that handled the change. Ask your attorney to review the corrected record before you mark that row done. When you open another account or buy another home, add it to the list for review.
Common questions
You now have a way to track the work. These are the questions that often come up as you start making calls.
What does it mean to fund a trust?
It means putting property into the trust, such as changing ownership of your checking account. The Santa Clara County court describes funding as transferring title after signing the trust. Keep a separate line on your checklist for beneficiary choices.
What happens if I don't fund my trust?
Property left outside the trust can still need probate after you pass. It isn't automatic: ownership and beneficiary arrangements can provide another path, as the California courts explain. Ask your attorney to check the deed to your house and your account records for gaps. For more on these options, read How to Avoid Probate: Trust Funding and Other Strategies.
Do I put my bank account in my trust?
Ask your attorney which checking and savings accounts belong in your trust, then ask the bank for its paperwork. A trust account and a payable-on-death account are different arrangements (California courts' guide). Before making a change, ask what will happen to your account number, direct deposit, and bill payments.
Should my trust own my IRA or 401(k)?
Generally, no: don't retitle your IRA or 401(k) into your living trust during life (IRS IRA requirements; 401(k) requirements). Naming a trust as beneficiary is a separate tax and legal decision for your attorney or CPA. The IRS describes special rules for trust beneficiaries, so review the forms before you change them.
Do I put my car in my trust?
Ask your attorney before changing your car title, and check with your insurer and state motor vehicle office. For example, California's DMV gives specific instructions for titling a car to a trust. Use your own state's instructions and save the updated title if you make the transfer.
How much does it cost to fund a trust?
Get quotes for the work on your list rather than relying on a national estimate. Ask your attorney what your trust package already covers, and ask the recorder and motor vehicle office about fees for any planned filings. Before a house transfer, ask your attorney to review your mortgage terms and ask your title insurer to check your policy. Ask each office when to follow up, and write that date beside the task.
Once your plan is clear, TrustHelm can help you keep your funding records together alongside your family's attorney. Create your account.
This guide is educational, not legal or tax advice. Work with attorneys who do estate planning and a CPA for decisions about your trust.