Creating a revocable living trust is only the first step in building an effective estate plan. For a trust to work properly under Florida law, it must be “funded,” meaning assets are transferred into the name of the trust.
Many estate plans fail to avoid probate because assets were never retitled. Funding ensures your successor trustee has authority to manage and distribute property according to your wishes.
For Jacksonville families, proper trust funding can be just as important as drafting the trust itself.
A revocable trust only controls the assets placed into it. If property remains titled in your individual name, those assets may still go through probate in Florida.
Funding a living trust may help:
Without proper funding, even a well-drafted trust may not accomplish your goals.
Each estate plan is unique, but many Florida residents transfer a variety of assets into their revocable living trust.
Homes, investment properties, and vacation residences are commonly retitled into a trust. Florida homestead property requires special attention to ensure compliance with state law.
Checking, savings, and money market accounts can often be retitled in the name of the trust. Financial institutions may require specific documentation.
Stocks, bonds, and managed investment accounts are frequently transferred to a living trust to streamline administration.
Ownership interests in LLCs or closely held companies may also be assigned to a trust, depending on the operating agreement.
Some tangible assets may be transferred using an assignment document.
Many individuals assume their trust is complete after signing the documents. In reality, improper funding is one of the most common issues seen during estate administration.
Common mistakes include:
Working with a Jacksonville trust attorney can help ensure funding steps align with Florida law.
Transferring property into a Florida living trust typically involves preparing and recording a new deed. The type of deed and wording used can affect homestead protections and tax considerations.
Because Florida real estate laws are unique, professional guidance is often recommended before changing ownership of property.
Not every asset belongs inside a revocable trust. Some accounts — such as retirement plans or certain insurance policies — may use beneficiary designations instead of trust ownership.
An estate planning attorney can help determine which assets should be funded into the trust and which should remain outside.
Funding timelines vary depending on the number of assets involved and how quickly financial institutions process paperwork. Some transfers can be completed in days, while real estate transfers or business assignments may take longer.
Many Jacksonville clients complete funding in stages, prioritizing major assets first.
Funding a living trust is not a one-time event — it’s an ongoing process that may need updates as your assets or family circumstances change.
Our team helps Florida families:
If you have created a revocable living trust or are considering one, we can help you take the next step toward fully implementing your plan.
Contact our Jacksonville office today to schedule a consultation and learn more about funding your living trust properly.
