If you create a living trust-based estate plan, after your trust has been created, there is one more very important additional step. All of the property or assets that you intend to be controlled by the trust must actually be re-titled into the name of trust. This is known as funding the trust. In most cases it simply means changing the ownership of that property from you to the trust. The specific method of funding your trust depends on the type of assets you are including in your trust.
This additional step is what allows your affairs to be handled after your death without having to go through probate. With a will-based plan, probate will be required except in the case of a modest estate.
