What goes in Your Trust

Creating a living trust is an important part of many estate plans, but signing the trust documents is only the beginning.

For a trust to work as intended, you also need to determine which assets should be owned by the trust and which assets should stay outside of it.

This process is commonly called funding your trust and its one of the areas where we see the most amount of mistakes.

Many assets can be transferred into a revocable living trust, including real estate, certain bank accounts, investment accounts, and business interests. Other assets—particularly retirement accounts—usually require different planning.

Here are some of the most common assets Utah families should consider when funding a living trust.

1. Your Home

For many families, their home is one of their largest assets and one of the most important assets to consider transferring into a living trust.

This is generally accomplished by preparing and recording a new deed transferring ownership from you individually to you as trustee of your trust.

For example, instead of your home being owned by:

John and Jane Smith

it might be titled to:

John Smith and Jane Smith, Trustees of the Smith Living Trust dated January 1, 2026

You still live in the home, maintain it, and generally control it just as you did before.

However, because the trust owns the property, the successor trustee can administer the property according to the terms of the trust after your death.

Properly transferring real estate into a trust can also help prevent that property from having to pass through probate. 

Properly transferred property will also provide a step-up in tax basis, which is incredibly valuable to avoid paying unnecessary capital gain taxes.

2. Other Real Estate

A revocable living trust may also own other real estate, including:

• Rental properties
• Vacation homes
• Cabins
• Vacant land
• Commercial property
• Certain mineral or property interests

Real estate located in another state can be especially important to discuss with an estate-planning attorney because one might want to avoid probates in multiple states through one revocable living trust.

Without appropriate planning, owning real estate in multiple states can potentially result in probate proceedings in more than one state.

Transferring qualifying real estate into a properly structured living trust can help address that problem.

3. Bank Accounts

Many checking, savings, money market, and similar non-retirement accounts can be titled in the name of your trust. Or simply add the trust as the beneficiary designation, typically after your spouse.

You generally continue using the accounts normally while you are serving as trustee, and it helps you avoid having to get new bank account numbers and checks.

The benefit becomes particularly important if you become incapacitated or die. Your successor trustee may be able to access and manage trust-owned accounts according to the terms of your trust without having to go through a probate proceeding.

Not every bank account necessarily needs to be transferred into the trust, however. The best arrangement depends on your particular estate plan.

4. Non-Retirement Investment Accounts

Brokerage accounts containing stocks, bonds, mutual funds, and other non-retirement investments can often be transferred into a revocable living trust.

As trustee, you generally continue controlling the account and making investment decisions.

If you become unable to manage your affairs, your successor trustee can potentially step in and manage the trust-owned investment account.

After your death, the account can be administered according to the instructions contained in your trust.

5. Business Interests

Depending on the type of business and its governing documents, ownership interests in a business may be transferred or assigned to a living trust.

This could include interests in:

• Limited liability companies
• Partnerships
• Family businesses
• Certain closely held companies

Business ownership requires additional consideration because operating agreements, partnership agreements, shareholder agreements, buy-sell agreements, or other restrictions may affect whether and how an ownership interest can be transferred.

Business owners should make sure their estate plan and business documents work together.

If one has a S-Corporation, special consideration and language should be included in one’s revocable living trust.

6. Valuable Personal Property

A trust may also cover personal property such as:

• Furniture
• Jewelry
• Artwork
• Collectibles
• Tools
• Guns
• Electronics
• Household belongings
• Other valuable personal property

Depending on the type of property, these assets may be transferred through a general assignment of personal property or addressed specifically within the estate plan.

Certain titled or regulated property may require additional steps.

What Assets Might Not Be Retitled Into Your Trust?

Not every asset should simply be transferred into the name of your living trust.

Some assets require special consideration.

Retirement Accounts

Retirement accounts such as IRAs and 401(k)s generally should not be retitled into a revocable living trust during your lifetime.

Instead, these accounts remain in the individual's name and pass according to the beneficiary designation associated with the account.

The trust may sometimes be named as a beneficiary of a retirement account, but doing so can have important tax and distribution consequences.

Whether an individual or trust should be named as beneficiary depends on the circumstances.

This is an area where beneficiary designations should be coordinated carefully with the overall estate plan.

What About Life Insurance?

Life insurance is another asset that generally does not need to be retitled into a standard revocable living trust simply because you created a trust.

Instead, life insurance proceeds typically pass according to the policy's beneficiary designation.

Depending on your estate-planning goals, you can name the trust as the beneficiary or an individual, or multiple individuals.

For example, naming a trust may make sense when insurance proceeds are intended for minor children or when you want the proceeds managed according to specific instructions rather than distributed immediately.

The appropriate beneficiary designation depends on your particular situation.

What About Vehicles?

Vehicles require a little more consideration.

Whether a vehicle should be titled in the name of a trust depends on the circumstances, including the type and value of the vehicle and the overall estate plan, and the number of vehicles owned by the family.

Some people choose to leave vehicles outside their trust and use other estate-planning methods to address them.

Before changing a vehicle title, it is a good idea to determine whether doing so is actually necessary for your estate plan.

Beneficiary Designations Still Matter

One of the biggest mistakes people make after creating a trust is assuming the trust automatically controls everything they own.

It does not.

Assets with beneficiary designations may pass according to those designations regardless of what your trust says.

Examples may include:

• Retirement accounts
• Life insurance policies
• Certain annuities
• Payable-on-death accounts
• Transfer-on-death accounts

That is why a good estate plan involves more than preparing a trust document.

Your trust ownership, beneficiary designations, will, powers of attorney, and other estate-planning documents should all work together.

What Happens If You Forget to Put an Asset Into the Trust?

This is an important question and one that comes up frequently.

If an asset that should have been transferred into the trust remains in your individual name when you die, the trust may not automatically control that asset.

Depending on the type of asset, its value, how it is titled, and whether a beneficiary designation exists, additional administration or probate may be necessary.

This is one reason trust-based estate plans commonly include a pour-over will.

A pour-over will can direct certain assets remaining outside the trust at death into the trust, but relying on the will may still require probate administration.

It is generally better to properly coordinate and fund the estate plan during your lifetime rather than assuming the pour-over will will solve everything later.

Funding Your Trust Is Not a One-Time Event

Funding a trust is not something you should think about only when the trust is first created.

Your financial life changes.

You may:

• Buy another home
• Open a new bank account
• Change investment companies
• Start a business
• Sell property
• Receive an inheritance
• Purchase additional real estate

When you acquire significant new assets, it is important to consider how those assets fit into your existing estate plan.

A trust that was properly funded when it was created can become partially unfunded years later if newly acquired assets are never coordinated with it.

Review Your Trust and Assets Regularly

A good practice is to periodically review your trust, asset ownership, and beneficiary designations.

You should also consider reviewing your estate plan after major life events such as:

• Marriage or divorce
• Birth or adoption of a child
• Death of a spouse or beneficiary
• Purchase or sale of real estate
• Significant changes in your finances
• Starting or selling a business
• Moving to another state

Estate planning should change as your life changes. Your estate plan will grow as you and your family grow.

Creating the Trust Is Only Part of the Process

A revocable living trust can be an effective estate-planning tool, but it needs to be properly coordinated with your assets.

Some assets may belong in the trust.

Others should remain outside the trust but have carefully selected beneficiary designations.

The goal is not simply to put everything into your trust. The goal is to make sure each asset is handled in the way that best supports your overall estate plan.

If you are just beginning to learn about trusts, you may also want to read:

Do I Need a Trust in Utah?

What Is a Living Trust?

How to Fund a Living Trust in Utah

What Is a Revocable Living Trust in Utah?

Together, these articles explain the basics of creating, funding, and maintaining a Utah living trust.

Talk With a Utah Estate Planning Attorney

If you have created a trust—or are considering creating one—Integrity Law can help you determine how your assets should be coordinated with your estate plan.

Integrity Law focuses on wills and trusts and helps individuals and families in Tooele County, Davis County, Salt Lake County and throughout Utah create estate plans designed around their property, family, and goals.

Contact Integrity Law to schedule a free estate planning consultation.

This article is provided for general informational purposes only and is not legal advice. Estate-planning laws, tax rules, financial accounts, and individual circumstances vary. You should consult with qualified legal, tax, and financial professionals regarding your specific situation.

About the Author

Bryan Cowley, Esq.

Estate Planning Attorney | Founder of Integrity Law

Bryan Cowley is the founder of Integrity Law in

Tooele, Utah, His practice focuses exclusively on

estate planning, including revocable living trusts, wills,

powers of attorney, healthcare directives, and trust

administration.

Bryan has the heart of an educator and wants his

clients to understand and not be overwhelmed.

Through articles like this, he is committed to

educating Utah families on wills, trusts and estate

planning so they can make informed decisions about

protecting what matters most.

📞 (435) 277-0529

 📍7 S Main Street Suite 316 Tooele, Utah

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Article Information

Last Updated: August 19, 2026

Reviewed By: Bryan Cowley, Utah Estate Planning

Attorney

Practice Areas:

• Revocable Living Trusts
• Wills
• Powers of Attorney
• Trust Administration