Setting Up a Trust

Prepare to discuss whether a trust fits your goals and what it takes to create and fund one.

A trust can help manage property, provide for people you care about, and explain how assets should be handled. It is not the right tool for everyone, and creating the document is only one part of the process.

This page is general preparation, not legal or financial advice. Trust rules, taxes, and costs vary, so work with a qualified estate-planning attorney and financial or tax professional in your area.

Before You Meet With an Attorney

List the people or organizations you want to provide for.
Gather information about property, financial accounts, insurance, and business interests.
Think about who you trust to manage the trust.
Write down when and how beneficiaries should receive assets.
Note any goals involving children, dependents, pets, privacy, or charitable giving.

Questions to Ask+

What problem would this trust solve for me?
Should it be revocable or irrevocable?
What can and cannot be placed in it?
Who should serve as trustee and backup trustee?
What will creation and ongoing administration cost?
How does it work with my will, beneficiary designations, and powers of attorney?

Do Not Forget to Fund It+

A signed trust may not control an asset until ownership or beneficiary information is updated correctly. Ask for a written funding checklist and confirm who is responsible for each step.

Keep It Current+

Review the trust after major changes in health, family, finances, property, or location. Make sure trustees know where the documents are stored and whom to contact for help.