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Gather the Paperwork You will need all of the titles and deeds of property, stock certificates, and life insurance policies in order to fund the trust, that is, to transfer the property into the trust, discussed more fully below.

Another downside of living trusts is that transferring assets can be both time-consuming and complicated. If you hold a variety of assets, you'll need to contact your different banks and agents to have everything you own moved over -- a process that could involve a fair amount of paperwork.

A living trust is an important part of your estate plan. Most people can create a living trust without an attorney using software or an online service.

Determine what type of deed you want to use. There are various types of property deeds you could use to transfer your home into your trust. Prepare and sign the deed. Record the deed with the county. Make sure the trustee knows that the property is inside the trust.

Trusts and Bank Accounts You might have a checking account, savings account and a certificate of deposit. You can put any or all of these into a living trust. However, this isn't necessary to avoid probate. Instead, you can name a payable-on-death beneficiary for bank accounts.

For a revocable living trust to take effect, it should be funded by transferring certain assets into the trust. Often people fund a living trust with real estate, financial accounts, life insurance, annuity certificates, personal property, business interests and other assets.

A living trust isn't set in stone. You can add or remove assets so long as you follow the proper procedures to do it. by Michelle Kaminsky, J.D. A living trust is a versatile estate planning tool that allows you to place assets of your choice into a trust for your benefit while you're alive.