Establishing a trust is a crucial and efficient part of your estate planning. It's vital to remember that your trust only governs the assets that are actually placed into it. If an asset isn't titled in the trust's name, the trust may not be able to manage or distribute it. When your trust is initially set up, you transfer ownership of your property to the trust's name. But what should you do when you acquire new property after your trust is established? It's essential to re

However, even the most carefully prepared estate plans can overlook an asset. A newly acquired piece of property, a forgotten bank account, or another asset may never be formally transferred into the trust. When this occurs, a Pour Over Will can play a critical role.

One of the most common misunderstandings about Revocable Living Trusts is that simply signing the Trust document is enough. It is not. In order for your Trust to work properly, your assets actually need to be transferred into the Trust, especially your real estate. If your home or other real property is not titled in the name of your Trust when you pass away, that property may still go through Probate. Probate can be time consuming, public, and expensive for your loved ones.

Estate planning encompasses more than just drafting a will. It involves drafting trusts, powers of attorney, and healthcare directives.