Tag: revocable living trust

What Your Lawyer Didn’t Tell You about Your Living Trust

A living trust, also known as a revocable trust or a family trust, is a trust you establish during your lifetime.  Most people establish living trusts with several goals in mind, setting forth how they wish their assets to be distributed upon death and avoiding probate.  What many attorneys forget to make clear to their clients, however, is that a Living Trust can only do its job if it is funded. 

What does it mean to fund a trust? Funding is the process of transferring the ownership of your property or changing the beneficiary designations on your property into the name of your trust.  Unless your … Read the rest