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Trust preparation: Don't make these mistakes

On Behalf of | Jan 12, 2018 | Trusts

Those people who are looking toward the end of their lives are already one step ahead of the game. By laying down plans for an estate, a person is able to ensure that specific wishes for the distribution of assets are honored after death. Unfortunately, a person who makes certain estate planning mistakes may not get the desired outcome. Careful trust preparation can help one achieve one’s goals. Luckily, informed California residents can be better prepared to make certain estate planning choices. 

When planning a trust, one should ensure first that documents are kept up-to-date, accessible and that the relevant individuals such as successors are aware of the documents. Also important is funding the trust. A trust is only as good as the assets contained within it, so a person who has created such a document should ensure that the assets are transferred into the structure. Some individuals choose a pour-over clause, which says that any of the trustee’s assets not held within the trust are transferred into it upon death.

This type of estate planning method allows a person to give guidance for the heirs. One example is that a trust can set requirements for receiving large sums of money. It also allows a person to manage the estate if the trustee becomes incapacitated. 

In California, trust preparation can be an important aspect of estate planning. A person interested in creating such a structure for his or her estate may be wondering where to find help. Many people choose to use the services of an experienced estate planning attorney for help with this part of the process. 

Source:, “Money Matters: Estate planning mistakes“, Marc Hebert, Dec. 28, 2017


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