Determine which type of trust you’ll need: If you’re single, you’ll want a single trust. If you’re married, you have a choice. You and your partner can both get a single trust, or you can get a joint trust. If you have a lot of joint properties like homes or vehicles, a joint trust probably makes the most sense.
Take inventory of your assets and property: To create a trust, it’s important to know what you own and what you want to put into the trust. Assets you can transfer to a living trust include stocks, bonds, real estate, family heirlooms, bank accounts and vehicles. Notably, you can’t transfer a retirement account like a 401(k) into a living trust but you can name the trust as a beneficiary, effectively ensuring your benefits are paid into your trust after you die. You should also take this time to gather any relevant paperwork, such as records of home ownership, car titles and stock certificates.
Choose a trustee to manage the trust: You can name yourself as a trustee or someone else. If you do name yourself, you’ll also need to name a successor trustee who will take over when you die. Now is also a good time to decide which of your heirs will get what property.
Write up the trust document: You can do this either by using an online service that creates a template and fills out your personal information, or you can enlist the help of an attorney who completes the entire document for you.
Get the document signed: Next, you’ll need to sign the trust document and get it notarized for it to be legally binding.
Transfer the property into the trust: This process is called “funding the trust.” This does require some paperwork, so getting a lawyer may make it easier.