Interviewer: Can you talk a little bit about why funding your trust is so important?
Becky Cholewka: One of the biggest problems we see here at Cholewka Law, is that there’s a lot of people out there that have done a great job at getting their estate plan created, and then they don’t follow through with that plan.
When you create a trust, it’s sort of like a vault. It’s a big, giant safe, and you’ve put in all of these safety features, combination lock, and maybe you have the bio metrics and have to scan your eyes. A trust is like a super safe vault.
If you don’t put anything in the vault, what is it protecting? A trust works exactly the same way. You get all of these documents created, and then you never take the time to take your assets and put them into the legal document, and into the trust.
You might have a super, awesome trust that you’ve gone out and done a great job of getting created, and probably spent quite a bit of money on getting created. If you don’t do the legwork and put your assets into that trust, it really isn’t protecting anything.
Eventually, your family will have to go through the probate court to get your assets distributed per your wishes.