A living trust can be used to safeguard finances, increase privacy, manage assets, and it can help you avoid the dreaded probate process. Unfortunately, many individuals do not properly fund their living trust.
You might be asking yourself, why would someone go through the process of creating a trust and then fail to fully fund it?
This is a common occurrence when a person tries to fund the trust themselves. The do-it-yourself approach might seem convenient at the time, but overlooking important details will end up costing your loved ones tens of thousands of dollars in probate fees.
Please note that this article is a general summary of law and omits many important details, footnotes, and caveats. It is no substitute for legal advice from a lawyer based on your particular circumstances.