After forming a trust, this is where most people go wrong.

NO ASSETS, NO TRUST 🗣️🗣️🗣️ For a trust to be valid and effective, it must be properly funded with assets. There may be additional paperwork involved in these steps, so it’s important to consult with a professional (aka an attorney) Don’t attempt to handle it on your own based on a 1 minute video! This information is general, and your specific circumstances or state laws may vary. A note to mention about bank accounts: Some banks and credit unions may not allow you to retitle accounts. So without having to open up a new account, you can make your account Payable on Death (POD) to your Trust. This way, when you pass away, your account won’t go through probate and will be distributed according to your Trust. However, this doesn’t let your Trustee manage the account if you become incapacitated (because you’re still alive duh!) POD is only effective upon death, so you’ll still need a Power of Attorney for someone to handle your affairs during your lifetime.