Once You Create a Living Trust, Don’t Forget to Fund It

Your real estate holdings, life insurance, bank accounts and retirement savings won’t magically flow into your trust. You have to put them there. Failure to do so could mean months of probate court hassles for your heirs.

A woman with a Post-It Note on her forehead that reads, "Don't Forget."
(Image credit: Getty Images)

Far too often, when I review prospective clients’ trust documents and financial statements, I find that their accounts haven’t been titled in the name of the trust they created.

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Michael Clark, CFP®
CEO, Ensemble Wealth Management

Michael Clark is an independent Investment Adviser Representative, Certified Financial Planner and owner of Ensemble Wealth Management (www.ensemblewm.com). He has more than 25 years of experience in the financial and retirement planning industry and is licensed in securities, insurance and real estate services.