You’ve made the key decision to create a Revocable Living Trust, the cornerstone of a comprehensive estate plan. You signed the documents and feel protected with peace of mind.
But here is a critical warning: Signing the trust document is only half the battle. A signed trust document is nothing more than an “empty bucket” of instructions until your assets are legally transferred, or funded, into its name.
An unfunded trust is a massive invitation to the very legal disasters you paid to avoid: Probate after you pass away, and an expensive, public guardianship proceeding if you become incapacitated.
The cost of this oversight isn’t just a headache. It can easily exceed $50,000 in legal fees, penalties, and lost time for your family. Avoid this with the help of the Owego, IL estate planning attorney with Gateville Law Firm.