If you have chosen to use a Revocable Living Trust as part of your estate plan, one of the primary benefits of your trust is for your loved ones to avoid the probate process after your death. In order to achieve this benefit for your loved ones, you must fund your trust. Funding your trust means transferring ownership of various assets from you to your trust. Any assets that are owned by the trust at the time of your death pass under the trust without probate. Any assets that are still in your name (without beneficiaries) at the time of your death are subject to probate.
For assets that you want to pass under the terms of your trust, you need to either change the ownership to your trust, or change POD (Payable On Death) beneficiary of the account to your trust. We typically sign and record a deed transferring ownership of Georgia property to your trust. You will need to call your home insurance company to name the trust as an additional insured. You may also need to reapply for your homestead exemption in the next calendar year.