In the evolving landscape of wealth management, financial advisors are under increasing pressure to deliver holistic, high-impact services efficiently and confidently. Estate planning is no exception. As more firms adopt digital estate planning platforms, one area that still raises questions for advisors is trust funding.
Some advisors seek out multiple tools to assist with this step, believing one estate planning platform may not provide adequate support. But when working with NetLaw, that’s simply not the case. NetLaw’s estate planning solution goes beyond document generation. Through the integration with the Hargrove Firm, advisors and their clients receive comprehensive support for trust funding through one platform.
What Is Trust Funding and Why Does It Matter?
Trust funding refers to the process of retitling assets into the name of a trust or naming the trust as a beneficiary. It is a critical step that ensures a client’s assets are governed by their estate plan and distributed according to their wishes. Funding your trust is important because:- The asset and your estate may avoid the probate court process
- A properly funded trust saves time and money for your loved ones
- A properly funding trust provides ease of administration and efficiency for your Successor Trustee
- Asset distributions are made effectively and according to the terms of your trust
- Additional asset protection to your beneficiaries may be included
Trust Funding Is Built Into the NetLaw Experience
Unlike platforms that stop at document creation, NetLaw was purpose-built to address the full estate planning lifecycle, including trust funding. NetLaw’s solution combines intuitive digital tools with dedicated legal expertise from the Hargrove Firm, eliminating the need for other third-party platforms.How Hargrove Firm’s trust funding process works:
1. Plan Execution: After the client completes and executes their estate plan through NetLaw, trust funding can begin. 2. Guided Instructions through the NetLaw Family Portal: Advisors and clients receive step-by-step digital instructions for funding specific asset types, from real estate to bank and brokerage accounts. The attorney also provides detailed instructions during the client’s Wrap-Up meeting. 3. Attorney-Prepared Legal Documents: Where required, Hargrove Firm prepares critical legal documents, such as:- Deeds to transfer real estate into the trust
- Certificates of trust for account transfers
Avoid Platform Overlap and Unlock Greater Efficiency
Some advisory teams choose to incorporate supplemental platforms to manage trust funding, but this often leads to fragmented workflows, duplicated data entry, and increased costs. In many cases, these platforms offer features already included in NetLaw. By centralizing estate plan execution and trust funding in one system:- Advisors reduce operational complexity
- Clients experience a more cohesive and professional process
- Legal oversight is embedded, not outsourced