Section 1.74 Assignment of Trust Property

• Library: Trusts and Powers 2013 Supp

XX. (§1.74) Assignment of Trust Property

Once the trust agreement or instrument setting out the terms of the trust is signed, the settlor must fund the trust for it to become effective. If the settlor is not the trustee, all property that the settlor intends to become trust property must be retitled in the name of the trustee or, with respect to tangible personal property, delivered to the trustee. If the settlor is to be the trustee, the property must be retitled in the name of the settlor as trustee...