Answer:
I could offer a lot of generalities about trusts, but even with 5 years as a trust officer, I could not answer the question intelligently without reading the document. All we can be sure of is that the grantor had to execute the document prior to death unless the trust was contained in his will.
Generally, grantor trusts are funded with transfers of assets to the trust while the grantor is still alive. However, a trust can also be "dry" and not funded until after the grantor's death. Then, it would be funded by a "pour over" provision in the decedent's will.
There is no such thing as a "standard form" trust; you always have to read the document.
First published on BankersOnline.com 11/28/11
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