Choosing the True Trust Blueprint was a decision based on its comprehensive and strategic approach to philanthropy. The Blueprint's commitment to empowering lives, addressing root causes, and fostering lasting impact aligns seamlessly with our values at every level. This partnership allows us to leverage innovative solutions and collaborate effectively, ensuring that our efforts create a meaningful and sustainable difference in the world.

We customize every client experience, tailoring our approach to meet individual needs and preferences. Our commitment to personalized service ensures that each client receives a unique and tailored solution to address their specific requirements.

Every plan we offer is designed to be state-specific! We offer state-specific Will-based plans in all 50 states and state-specific Trust-based plans in all states, except Louisiana.

The Trust document serves as legal evidence of the Trust's establishment, confirming its existence. The act of funding your Trust involves the lawful re-titling of your assets from your individual name to that of your Trust.

This transfer of asset ownership from your name to your Trust's name provides legal assurance that these assets will bypass probate proceedings and be distributed according to the specifications outlined in your Trust document. As the Primary Trustee during your lifetime, you retain complete control over any assets transferred to the Trust until your passing.

Renaming a financial or bank account in the name of your Trust ensures that the distribution of the account aligns with the specifications outlined in your Trust.

What are the advantages of transferring a financial account to my Trust?

The primary advantage is that the account's allocation will adhere to the terms established in your Trust. This implies that any stipulations articulated in the Trust will be applicable to the Beneficiaries named within it. Another advantage is the flexibility to designate alternate Beneficiaries in case something happens to the primary Beneficiary initially identified.

What if I desire a financial account to be designated to someone not mentioned in my Trust?

No issue! You have the option to retain them as a Beneficiary directly on the account itself. To facilitate this, simply reach out to your bank or financial institution and request the requisite forms. It's essential to note that by doing so, the terms of your Trust will not extend to this particular Beneficiary.

Transferring a house to your Trust is generally not problematic, even when there is an existing mortgage.

In most cases, this is true even if your mortgage includes a due-on-sale clause stipulating that the mortgage becomes due upon a change in ownership. Many transfers to Trust are exempted, with certain conditions such as the property being residential with five units or fewer, and the trust specifically granting you the right to occupy the property.

To ensure a smooth process, it's advisable to proactively reach out to your mortgage company or lender. Obtaining written confirmation in advance is a prudent step to ensure that the transfer aligns with the terms of the mortgage or deed of Trust, avoiding any potential violations.

Funding the trust involves the transfer of assets to the designated Trustee of the Trust. Typically, this is accomplished by transferring assets to the individual identified as "Trustee Name," serving as the "Trustee" for the "Trust Name."

In the case of multiple Trustees, the process would appear as follows: "Trustee One Name" and "Trustee Two Name," acting as "Trustees" for the "Trust Name."

It's often unnecessary to transfer the ownership of life insurance policies to a Trust. Instead, the emphasis is typically placed on determining the destination of the proceeds rather than altering the ownership structure.

Normally, life insurance policies provide the option to specify the destination of the proceeds through a Beneficiary Designation process. You can opt for the proceeds to be directed straight to an individual, such as a spouse or child, or designate the Trust as the recipient. Opting for the Trust as the recipient offers the advantage of having the proceeds managed according to the Trust's terms, rather than being disbursed directly to the beneficiaries. This can prove especially beneficial if the beneficiaries are younger children.

The decision ultimately rests with you, though a common strategy involves naming your spouse as the primary beneficiary and the Trust as the contingent beneficiary. Each insurance carrier typically has its own Beneficiary Designation forms. Therefore, you can reach out to your life insurance provider for further details and request any necessary forms to update your beneficiary designation.

While many approach this process with good intentions, there are common mistakes that often occur. Avoiding these missteps becomes easier when one understands them beforehand.

1. Selecting the Wrong Trustee
Choosing an inappropriate Trustee is a frequent error made by parents. Often stemming from a reluctance to confront the reality of their absence, this mistake can lead to hasty decisions. Opting for a close family member may seem convenient, assuming they have the children's best interests at heart. However, it's crucial to consider practical issues such as the Trustee's health, proximity, age, reliability, and judgment. Taking the time to deliberate on the suitable candidate to manage the children's Trust Fund is vital. Selecting the wrong person can result in significant complications, including mismanagement of the Trust, with potential consequences that cannot be rectified if the Trustee fails to fulfill their duties.

2. Lack of Clarity Regarding Trust Goals
Unclear or misplaced goals for the Trust can inadvertently grant young adult children access to funds that might prove detrimental. Deliberating on when and how children should receive their funds is essential for establishing a Trust that serves their financial well-being. Questions such as the frequency of disbursements, age thresholds, or milestone-based distributions (e.g., graduation, marriage) should be carefully considered to ensure the Trust serves its intended purpose effectively.

3. Omitting Asset Protection Measures
A significant advantage of establishing a Trust is the asset protection it provides when structured correctly. Incorporating spendthrift provisions within the Trust can safeguard beneficiaries from making detrimental financial decisions that could lead to substantial losses. Additionally, implementing a system of checks and balances to periodically assess and protect assets over time is essential for long-term security.

4. Failing to Conduct Annual Trust Reviews
Regularly reviewing the Trust is paramount. Life circumstances change, and an Estate Plan must adapt accordingly. An outdated plan is as problematic as having no plan at all. Annual reviews afford the opportunity to reassess critical aspects such as the suitability of the Trustee, inclusion of all relevant beneficiaries, removal of inappropriate beneficiaries, updates due to family births or deaths, and changes in the Trustee's mental or physical health.

When you contribute assets, whether it's real estate, financial instruments, or other valuables, you unlock several advantages:

1. Tax Benefits:

2. Philanthropic Impact:

3. Streamlined Estate Planning:

4. Reduced Clutter:

5. Social Responsibility:

6. Personal Fulfillment:

7. Legacy Building:

Donate Assets is a trusted True Trust Blueprint partner specializing in handling asset donations. As a reliable entity in the philanthropic landscape, Donate Assets is dedicated to managing and optimizing the impact of asset contributions for meaningful and lasting change.