What happens if someone set up a living trust but never funded it?
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What happens if someone set up a living trust but never funded it?
Does the money, property go to probate? Funds never transferred; person now deceased.
Asked on December 7, 2010 under Estate Planning, Colorado
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
I am so sorry for you loss. May I ask: is there a Last Will and Testament as well? You said "probate" so I am assuming that there is a Last Will and Testament. Is the Last Will and Testament what is known as a "pour over" Will? That means that it ha a provision that allows property that was not transferred during the testator's lifetime to "pour over" into the trust at the time of the testator's death. Trusts may not have to be fully funded prior to death is there is such a Will around. If there is not such a Will and the property was never transferred in to the Trust prior to death then generally speaking it must go through probate. I would seek help here. Good luck.
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