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Will Your Living Trust Work?

Living trusts are popular in estate planning right now. If you do not go through an experienced estate planning attorney to get yours, it might not work nearly as well as you want it to work.

Mistake

This is becoming an increasingly common problem and was recently discussed by the Napa Valley Register in "Avoid this living trust problem."

The problem can result from people buying living trusts through non-attorney trust mills, online legal form services or even some non-specialist attorneys. At the same time, such a person creates a trust, a simple pour-over is also created directing that the entire estate is subject to probate should “pour-over” go into her trust. Unfortunately, for the estate to be placed into a trust, as the pour-over will directs, the estate must first go through probate. This defeats the entire purpose of creating the trust.

Fortunately, this problem is easily avoidable. An estate planning attorney can create a living trust, then help the clients put assets into the trust. Consequently, those assets will not be subject to probate later.

Reference: Napa Valley Register (March 22, 2018) "Avoid this living trust problem."

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