Your California Living Trust Will FAIL Unless You Do This FIRST!

Описание: Funding your California Living Trust: You spent thousands creating a living trust but never transferred your assets into it? That "empty shell" could force your family into expensive California probate anyway, costing $46,000+ in fees alone. This comprehensive video shows you exactly how to fund your trust properly so your estate plan actually works when it matters most.

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What You'll Learn:
Why unfunded trusts fail completely despite costing thousands to create
Step-by-step asset transfer process for real estate, banks, investments
California probate costs that reach $46,000+ for million-dollar estates
Heggstad petition emergency fixes when funding was forgotten
Incapacity protection through proper successor trustee authority
Pour-over will backup plans and why they require court involvement
Strategic timing for property tax exemptions and beneficiary designations

Key Takeaways:
✅ Trust funding means transferring asset ownership into trust name, not automatic
✅ California probate fees reach $46,000+ minimum for $1M estates regardless of debt
✅ Unfunded trusts provide zero protection and force expensive court proceedings
✅ Properly funded trusts avoid probate and allow immediate successor trustee control
✅ Heggstad petitions can transfer forgotten assets but require court time and costs
✅ California Property Code 850 allows post-death asset transfers with proper evidence
✅ Property tax reassessment exemption applies to revocable trust transfers

Chapters (Timestamps):
00:00 — The Expensive Mistake: Why Unfunded Trusts Fail Completely
01:27 — What Trust Funding Actually Means: Asset Ownership Transfer Process
02:58 — California Probate Costs: $46,000+ Fees Your Trust Should Prevent
04:19 — Incapacity Planning: Successor Trustee Authority vs Conservatorship
05:46 — Consequences of Unfunded Trusts: Real Client Horror Story
07:03 — Heggstad Petition: Emergency Court Fix for Forgotten Assets
10:51 — How to Fund Your Trust Correctly: Asset-by-Asset Strategy
13:44 — Routine Review: Keeping Your Trust Updated as Life Changes

California Estate Planning Legal Requirements:
Trust Funding Process: Asset title changes, deeds, account ownership updates required
Probate Code Section 850: Heggstad petition allows post-death asset transfers with evidence
Property Tax Exemption: Revenue Code provides reassessment protection for trust transfers
Pour-Over Will Backup: Court proceedings required to transfer forgotten assets into trust

Critical Mistakes That Destroy Trust Protection:
❌ Creating trust without transferring any assets into trust ownership
❌ Assuming trust document automatically transfers asset titles upon signing
❌ Forgetting to update new asset purchases into trust name ownership
❌ Relying on pour-over will instead of proper funding during lifetime
❌ Missing property tax exemption deadlines for real estate transfers
❌ Not updating beneficiary designations to align with trust provisions
❌ Attempting estate planning without comprehensive funding checklist

Red Flags That Signal Unfunded Trust Problems:
Asset titles remaining in individual names instead of trust ownership
New purchases never transferred into trust despite existing estate plan
Bank accounts lacking trust designation or beneficiary updates
Real estate deeds showing individual ownership rather than trust
Investment accounts missing trust beneficiary or ownership designations

Why This Matters Right Now:
California probate system is notoriously expensive and time-consuming, with statutory fees reaching $46,000+ for modest estates. Unfunded trusts provide zero protection despite creation costs. Family members discover funding problems only after death when correction requires expensive court proceedings and delays.

Real Case Impact:
Client's parents created trust but never transferred home ownership. After death, successor trustee discovered no authority over property, requiring probate court intervention to complete sale. Proper funding would have allowed immediate control and avoided legal complications entirely.

Important Legal Disclaimer:
This is educational content only and does not constitute legal advice — consult with a licensed estate planning attorney about your specific California trust funding situation immediately.

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