Estate Planning Weekly

A couple that I worked with this year was surprised to learn that they need a Will to go along with their Trust based Estate Plan. This couple came to me with a Will based Estate Plan that they had for years. These was nothing wrong with their plan when it was setup. However, as time passes, circumstances change as to your Estate Planning needs. After learning about their current circumstances, we all agreed that a Trust based Estate Plan was right for them. When they came in for their signing cermony, we reviewed their Trust and other documents. The couple was surprised that switching form a Will based to Trust based Estate Plan would require them to still have Will. There Are Two Main Reasons You Need a Will With Your Trust REASON #1 - You pass away before your Trust is fully funded.  This can happed if you pass away before you have time to fund your Trust, or if there is a mistake/oversight and an asset is properly funded into your Trust. In this case, your Pour-Over Will directs that you are leaving