If I forgot to list a bank account that has $25K in it, will that void my Living Trust?

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If I forgot to list a bank account that has $25K in it, will that void my Living Trust?

I seem to remember a few years back $99K could be held outside of trust without triggering probate?.

Asked on July 24, 2014 under Estate Planning, California

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 7 years ago | Contributor

It is not to late to rectify the mistake.  If you have a "pour over" provision in your Will then the asset will eventually be included or the Trustee can petition to include it later on.  This may be as simple as naming the Trust as the beneficiary on the account  - a Payable on Death or Transfer on Death form that is filled out by you.  But I would speak with the lawyer who created the Trust as to the simplest way to include the funds at this point.  Good luck.


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