How to Fund Your Trust (and Why It Matters More Than You Think)

Episode Summary: In this episode of *Planning with Purpose* Deb Morneau from Courteous Law PC delves into the importance of properly funding a trust for ultimate peace of mind. Deb explains how funding a trust is akin to placing assets in a basket to seamlessly pass them on to heirs, avoiding probate. She emphasizes the significance of including assets like houses, bank accounts, vehicles, and various investments in the trust to ensure a smooth transfer process. Key Timestamps: 00:00 – Introduction 01:30 – Importance of funding a trust explained 03:45 – Types of assets to include in a trust 06:12 – Overlooked details when funding a trust 09:20 – Handling retirement plans and life insurance in a trust 12:05 – Examples of trust funding mishaps and their consequences 14:50 – Reviewing and updating a trust over time 16:40 – Tips for maintaining an up-to-date trust About the Show: *Planning with Purpose* is a podcast dedicated to guiding families, retirees, and small business owners through the intricacies of estate planning, led by seasoned Deb Morneau. The show focuses on empowering individuals to secure their legacies and protect their assets for future generations.