Reply to If you have a revocable trust

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Everything should be in the trust. If you aren't going to retitle everything, the trust is pointless.  [/quote]

Do you even have your everyday checking acct in the trust?  [/quote]

This illustrates how people are often clueless about what they're doing or need to do re: these trusts and why they are not always a good idea.  They take work to set up and monitor (new accounts or significant new purchases like homes, cars, etc., may have to be titled in the trust's name, for example).

It's simple: any asset not in the trust is in your estate.  You can leave your checking account out of the trust if you want, but the point is, if it's not in the trust, it's part of your estate.  This is not legal advice and IMO you ought to get some before making a move like a revocable inter vivos trust.

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Most of the times, the trust also say that what ever in your estate gets transferred into the trust at your death...so it doesn't matter if you don't transfer those assets into the trust while you're alive...[/quote]

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