I often meet with clients who had the good sense years ago chose to utilize a trust for their estate planning. Typically they created a trust with the intent their kids would not have to deal with probate court after their death. Usually they tell me, “we’re all set, we have a trust.” Yet many times they mistakenly believe that creating a trust is all that is necessary to avoid probate after they die. They fail to realize probate can only be avoided if the property they own like their home or bank accounts has been re-titled into their trust (i.e. funded). Sadly, it is far too common for someone create a trust and yet fail to transfer all their assets into their trust.
Whether a trust is ideal for you depends on your situation. An experienced attorney can help guide you through the process to help you determine whether a trust is best for you and how to make sure your trust is properly funded.