A recent conversation perfectly summarized why trust-funding is so important. The prospective client stated, “so basically without funding all I have is a stack of papers.”
While this may or not be exactly true, it really captures just how important proper funding is to making your plans effective. Leaving out critical steps undoes all your careful planning. At least three potential problems could surface:
3 POTENTIAL PROBLEMS
1) Assets not intended for probate may end up there
2) Administration costs for your estate may increase
3) You can lose protections from a trust by keeping old beneficiary designations in place
At Estrada-Legal, PC, we work with you to make sure your careful plans are properly executed.