What If I fail to fund My Revocable Living Trust?

Wally Shannon
Aug 31, 2018 · 1 min read

The Reality of the Unfunded Trust.

It is no secret that you developed your revocable living trust to avoid probate.

Having your trust correctly drafted and then signing it are critical steps in the process. However, those items represent only half of the project. Next, you need to go out there and fund it. If not, it will fail to serve its purpose.

You fund your trust by placing your assets in the name of the trust or setting your trust in as beneficiary of given assets. Without that step, your trust is just a fancy piece of paper that does nothing to avoid probate and may not even be the way your assets are distributed.

I admit that I laughed out loud when I saw this picture posted by a friend on her Facebook page. I knew I just had to use it for this article. Just like missing the shoe rack with your shoes leaves it standing empty, failing to fund your trust leaves your trust empty. As with the rack, your trust’s purpose cannot be met with that going on…

So you be sure get those shoes on the rack there sunshine!

Fund that trust.

The Grove Report

The Shannon Law Office Blog—www. shannon-law.com

Wally Shannon

Written by

Wally is an Estate and Trust Attorney from Wisconsin. He loves what he does, loves his family and friends. One of a million owners of the Green Bay Packers.

The Grove Report

The Shannon Law Office Blog—www. shannon-law.com

Welcome to a place where words matter. On Medium, smart voices and original ideas take center stage - with no ads in sight. Watch
Follow all the topics you care about, and we’ll deliver the best stories for you to your homepage and inbox. Explore
Get unlimited access to the best stories on Medium — and support writers while you’re at it. Just $5/month. Upgrade