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Phoenix, AZ estates & probate attorney Kaylee McMains talks about the importance of funding a trust in alignment with an estate plan. She explains that properly funding a trust in alignment with an estate plan is essential to fully realize the benefits a trust can offer. Many clients seek to establish a trust to simplify the administration of their estate for their loved ones and to ensure that their own care and financial needs are addressed if they become incapacitated. She likens a trust to a bucket: if the bucket is empty, it provides little assistance to successors, who would then need to gather each asset individually. However, if assets are properly transferred into the trust during the client’s lifetime, the process becomes seamless for successors to manage resources—either for the client if incapacitated or for loved ones after the client’s passing. She emphasizes that any assets left outside the trust will not be governed by it unless successors navigate the probate process to transfer those assets into the trust, which requires additional time and resources. Proper funding during the client’s lifetime ensures the trust can operate efficiently and effectively.
