Estate Planning Myth #6

Myth: A Revocable Living Trust always avoids probate.

Fact: If you have a Revocable Living Trust and it is not properly funded, all assets titled in your name at the time of your death and not titled in the name of the trust will need to go through probate.  To properly fund the trust and avoid probate, you should retitle your assets such as bank accounts and real estate in the name of the trust, and you should update beneficiary designations of life insurance policies and retirement accounts.

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