Do I need to go to court if there is a trust?

Transcript:

00:00:00

Generally, you do not need to go to court if there is a trust and that is assuming it is a well-drafted trust. Big primary purpose of trust and why people want to incorporate trust planning into their own estate planning is that it allows a private administration of the deceased assets at their death. And so, assuming the trust is well drafted, there shouldn’t be any court involvement at all. Sometimes, however, if there’s a dispute on how the trustee is handling the trust assets in accordance with the

00:00:30

terms of the trust or if there is ambiguity in the trust agreement or if there’s an issue that has come to fruition that maybe is not specifically addressed in the trust, then at that point you do might want to get a court involved. Um, another scenario when you might want to have court involvement is if after the grtor of the trust has died and there are assets that were not properly funded into the trust, you might have to probate the individual’s will, assuming they had a pourover will

00:00:59

in order to collect those assets into the trust. And what I mean by pourover will is it’s essentially a will that says any assets that I left out of my trust at the time of my death, bring into my trust through this will. And so it’s a way to capture assets that might have been left out of the trust so that we can bring them into the trust and the trustee can ultimately distribute them in accordance with the terms of the trust.

This transcript was auto-populated.