My spouse and I had an attorney draw up a will and trust a few years ago. We never funded the trust and no longer wish to. Does the fact that an attorney drew up the documents mean that we do indeed have a legal trust and our estate will transfer to the trust upon death?
Thanks
Do I have a revocable trust
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Re: Do I have a revocable trust
The trust is a vehicle for holding property. Typically you need to title property to the trust, although my trust does list some property that was assigned to the trust via the trust document.metalworking wrote: ↑Mon Nov 20, 2023 11:57 am My spouse and I had an attorney draw up a will and trust a few years ago. We never funded the trust and no longer wish to. Does the fact that an attorney drew up the documents mean that we do indeed have a legal trust and our estate will transfer to the trust upon death?
Thanks
In reality, if you haven't titled anything to the trust, you can shred the document and pretend it never existed. (But does your will mention the trust? And do you want to keep the will?)
Backtests without cash flows are meaningless. Returns without dividends are lies.
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Re: Do I have a revocable trust
It sounds like you have a trust. Whether your estate transfers to it or not depends on what the wills say. And they will need to be probated first.
The surest way to know the future is when it becomes the past.
Re: Do I have a revocable trust
Yes, you need to revoke the pour over will.
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Re: Do I have a revocable trust
Thanks everyone. That answers my question