Monday, October 8, 2012
When you create a revocable living trust, and create a pour over provision in your will, your planning does not stop at preparing and executing the trust documents. The crucial next step is funding the trust. You have to be sure to transfer title of assets into your trust. A good estate planning attorney should be able to help you determine what to transfer and how to transfer it. Things that may not be transferred include: retirement accounts, custodial accounts, life insurance, and your home if you intend to refinance.
See Larry Deason, Funding Critical To Estate Planning, YumaSun.com, Oct. 4, 2012.
Special thanks to Brian Cohan (Attorney at Law, Law Offices of Brian J. Cohan, P.C.) for bringing this article to my attention.