The Death Readiness Podcast: Not your dad’s estate planning podcast

What happens when a parent develops dementia and an attorney tells your family it’s “too late” to update estate planning? In this week’s Tuesday Triage episode, Jill walks through a real-life scenario involving outdated trusts, powers of attorney, probate versus non-probate property, and the estate planning opportunities that may still exist even after incapacity enters the picture. This episode explores how understanding asset titling, existing estate planning documents, and revocable trusts can help families creatively adapt an older estate plan to current realities.

What You’ll Learn in This Episode

Estate planning is not always “all or nothing.” Even if someone can no longer sign new estate planning documents, meaningful planning opportunities may still exist. 

Revocable trusts only control assets that are actually transferred into the trust. If the revocable trust was never funded, families may have more flexibility than they realize. 

A pour-over will acts as a safety net by directing probate assets into the revocable trust after death. 

Understanding how assets are titled is critical when incapacity becomes part of the estate planning picture. Joint ownership, beneficiary designations, and payable-on-death designations can dramatically affect what estate planning options remain available. 

Existing durable financial powers of attorney may allow a spouse or agent to continue planning on behalf of an incapacitated individual. 

Probate property and non-probate property work differently. Probate property requires court involvement after death. Non-probate property transfers automatically by operation of law, contract, beneficiary designation or trust agreement. 

Families should periodically revisit older estate plans. Estate plans that made sense 20 years ago may no longer fit current finances, health concerns, or family dynamics. 

Updating powers of attorney for a healthy spouse after the other spouse develops dementia can help make sure both spouses are protected in an emergency. 

Estate organization matters. Gathering account information, contacts, passwords, beneficiary designations, and legal documents before a crisis can significantly reduce stress for adult children and caregivers. 

Sometimes good estate planning is less about perfection and more about creatively adapting the tools already in place to the realities of life today. 

Resources & Links

Watch this episode on YouTube: https://youtu.be/6i-C-_q6Mqc

Estate Plan Audit: https://www.deathreadiness.com/audit

Mollie Lacher and Sunny Care Services: https://sunnycareservices.com/about-us/

Episode 17: How Powers of Attorney Work, When to Use Them, and When It’s Too Late to Get One: https://www.deathreadiness.com/podcast/episode-17-how-powers-of-attorney-work-when-to-use-them-and-when-its-too-late-to-get-one

Episode 19: Why You Need (or Don’t Need) a Trust: https://www.deathreadiness.com/podcast/episode-19-how-to-know-if-you-need-a-trust

Episode 68: Why Good Powers of Attorney Still Fail: https://www.deathreadiness.com/podcast/68

Probate v. Non-Probate Asset Infographic: https://static1.squarespace.com/static/67427098ef10a8326b64eba9/t/694b2f436198f33cd2adcf08/1766534979768/Probate+and+Non-Probate+Assets+educational+representation.png

Connect with Jill:

Did you enjoy this episode? Share it with someone you care about.

This podcast provides estate planning guidance for women and discusses real, practical issues, from caregiving, pre-planning a funeral, how to avoid probate using beneficiary designations, planning for individuals with special needs (and special needs trusts), whether you need a professional fiduciary (trustee or executor), how the estate tax works and how to preserve your legacy.

Tuesday Triage episodes answer questions from listeners like you, from powers of attorney, healthcare advance directives (and whether they work when you’re pregnant), what a Last Will and Testament really is, whether you need a trust, how Medicaid works and how to have senior and elder care conversations and how to care for aging parents.

Disclaimer: This podcast and all related content are for educational purposes only and do not constitute legal advice. No attorney-client relationship is established here. Use of this information without careful analysis and review by your attorney, CPA, and/or financial advisor may cause serious adverse consequences. For legal guidance tailored to your unique situation, consult with a licensed attorney in your state.

You can follow all the estate planning rules and still end up with the wrong plan. In this episode, Jill walks through a question from a young attorney who’s been handed traditional estate planning forms and is wondering whether they actually serve her clients. Jill break down how a standard trust structure can limit flexibility for families who don’t need estate tax planning, and how small adjustments can make a big difference. Estate planning isn’t about checking boxes. It’s about building something that works. 

What You’ll Learn in This Episode

Resources & Links

Watch this episode on YouTube: https://youtu.be/Ad7ZkN6sX6I

Estate Plan Audit: https://www.deathreadiness.com/audit

Episode 19: Why You Need (or Don’t Need) a Trust: https://www.deathreadiness.com/podcast/episode-19-how-to-know-if-you-need-a-trust

Episode 38: Why You Need (or Don’t Need) a Will: https://www.deathreadiness.com/podcast/why-you-need-or-dont-need-a-will

Connect with Jill:

Did you enjoy this episode? Share it with someone you care about.

This podcast provides estate planning guidance for women and discusses real, practical issues, from caregiving, pre-planning a funeral, how to avoid probate using beneficiary designations, planning for individuals with special needs (and special needs trusts), whether you need a professional fiduciary (trustee or executor), how the estate tax works and how to preserve your legacy.

Tuesday Triage episodes answer questions from listeners like you, from powers of attorney, healthcare advance directives (and whether they work when you’re pregnant), what a Last Will and Testament really is, whether you need a trust, how Medicaid works and how to have senior and elder care conversations and how to care for aging parents.

Disclaimer: This podcast and all related content are for educational purposes only and do not constitute legal advice. No attorney-client relationship is established here. Use of this information without careful analysis and review by your attorney, CPA, and/or financial advisor may cause serious adverse consequences. For legal guidance tailored to your unique situation, consult with a licensed attorney in your state.

New clients came in with two life insurance trusts—professionally drafted, signed, notarized, and organized in beautiful binders. There was just one problem: the trusts didn’t do anything.

In this episode, Jill breaks down what an irrevocable life insurance trust (ILIT) is, when it actually makes sense, and how it fails when no one follows through. This is a real-life look at the gap between having documents and having an estate plan that actually works.

What You’ll Learn in This Episode

What an irrevocable life insurance trust (ILIT) actually does 

Why ILITs are primarily used to address estate tax 

The current federal estate tax exemption and why most people don’t need an ILIT 

The difference between estate tax and estate income tax (Form 706 vs. Form 1041) 

Why “setting up” a trust is not the same as “funding and administering” it 

The key questions to ask about any life insurance policy: Who owns it? Who is the beneficiary? 

Why an ILIT that isn’t connected to the policy is just a stack of paper 

What’s actually involved in creating and maintaining an ILIT

How gift tax rules apply when funding a life insurance trust

What Crummey letters are and why they matter 

Why serving as trustee is a real job, not just a title 

How the “trust recession” is changing the way people approach estate planning

Resources & Links

Watch this episode on YouTube: https://youtu.be/JaE0tkaacoU

Episode 5, Why you shouldn’t worry about the estate tax: https://www.deathreadiness.com/podcast/why-you-shouldnt-worry-about-the-estate-tax

Get your copy of The Death Readiness Playbook: www.deathreadiness.com/playbook

Connect with Jill:

Did you enjoy this episode? Share it with someone you care about.

This podcast provides estate planning guidance for women and discusses real, practical issues, from caregiving, pre-planning a funeral, how to avoid probate using beneficiary designations, planning for individuals with special needs (and special needs trusts), whether you need a professional fiduciary (trustee or executor), how the estate tax works and how to preserve your legacy.

Tuesday Triage episodes answer questions from listeners like you, from powers of attorney, healthcare advance directives (and whether they work when you’re pregnant), what a Last Will and Testament really is, whether you need a trust, how Medicaid works and how to have senior and elder care conversations and how to care for aging parents.

Disclaimer: This podcast and all related content are for educational purposes only and do not constitute legal advice. No attorney-client relationship is established here. Use of this information without careful analysis and review by your attorney, CPA, and/or financial advisor may cause serious adverse consequences. For legal guidance tailored to your unique situation, consult with a licensed attorney in your state.

A living will and a last will and testament sound similar but they do completely different jobs. In this episode, Jill breaks down the difference in plain English so you know what goes where and why it matters. She also walks through a recent Michigan court decision that changes how advance directives work and raises a bigger question: who gets to decide in a medical crisis?

What You’ll Learn in This Episode

Why these documents get confused. “Living will” and “last will” sound similar, but they operate at completely different times and serve different purposes. 

What a living will actually does

The role of a patient advocate

What changed in Michigan law (April 2026)

What a last will and testament does

The simplest way to think about it

Why this matters for your family

Resources & Links

Watch this episode on YouTube: https://youtu.be/N4in8DLF7Mw

Related Episode: How to Write Your Own Will and Why You Shouldn’t: https://www.deathreadiness.com/podcast/50

Submit a Question for Upcoming Guest Blair Martin (Financial Advisor): Email: [email protected]

Connect with Jill:

Did you enjoy this episode? Share it with someone you care about.

This podcast provides estate planning guidance for women and discusses real, practical issues, from caregiving, pre-planning a funeral, how to avoid probate using beneficiary designations, planning for individuals with special needs (and special needs trusts), whether you need a professional fiduciary (trustee or executor), how the estate tax works and how to preserve your legacy.

Tuesday Triage episodes answer questions from listeners like you, from powers of attorney, healthcare advance directives (and whether they work when you’re pregnant), what a Last Will and Testament really is, whether you need a trust, how Medicaid works and how to have senior and elder care conversations and how to care for aging parents.

Disclaimer: This podcast and all related content are for educational purposes only and do not constitute legal advice. No attorney-client relationship is established here. Use of this information without careful analysis and review by your attorney, CPA, and/or financial advisor may cause serious adverse consequences. For legal guidance tailored to your unique situation, consult with a licensed attorney in your state.

When someone dies, there’s no master list of what they owned and no automatic system that pulls it all together. In this episode, Jill walks through what actually happens when families try to track down assets, why unclaimed property isn’t the safety net people think it is, and how a lack of organization can turn estate administration into a frustrating, years-long scavenger hunt. This is where estate planning meets real life and where most plans break down.

What You’ll Learn in This Episode

There is no central database of your assets. Death doesn’t come with a built-in inventory. When you die, your fiduciary has to piece everything together manually. 

Finding assets is one of the hardest parts of estate administration. Executors often start with tax returns to identify income-producing assets but that’s only a partial picture. 

Even professionals don’t have perfect tools. Asset-search platforms (like Trustate) can help, but they rely on incomplete databases and still require human follow-up. 

People, not systems, are often the biggest bottleneck. Accessing information frequently depends on whether someone is willing (or able) to respond, not whether the information exists. 

Unclaimed property is not a reliable backup plan. Assets only end up there if institutions know someone has died and can’t locate an owner and even then, it can take years. 

Estate planning isn’t just documents; it’s information sharing. Having a will or trust is not enough if no one knows what you own or where to find it. 

Your fiduciary can’t guarantee they’ll find everything. Even the most diligent executor can only follow leads. They can’t recover what they don’t know exists. 

Preparation reduces emotional and administrative burden. Organizing your assets now is one of the most practical ways to support your family later. 

Resources & Links

Watch this episode on YouTube: https://youtu.be/_fNqrE306C8

The Death Readiness Playbook. A practical guide + worksheets to help you organize your assets and make estate administration easier for your family: https://www.deathreadiness.com/playbook

Sunny Care Services (Mollie Lacher). Professional executor and personal representative services: https://sunnycareservices.com/

Trustate: https://www.trustate.com/

Pet Information Sheet: https://www.deathreadiness.com/pet-important-info-sheet

Connect with Jill:

Did you enjoy this episode? Share it with someone you care about.

This podcast provides estate planning guidance for women and discusses real, practical issues, from caregiving, pre-planning a funeral, how to avoid probate using beneficiary designations, planning for individuals with special needs (and special needs trusts), whether you need a professional fiduciary (trustee or executor), how the estate tax works and how to preserve your legacy.

Tuesday Triage episodes answer questions from listeners like you, from powers of attorney, healthcare advance directives (and whether they work when you’re pregnant), what a Last Will and Testament really is, whether you need a trust, how Medicaid works and how to have senior and elder care conversations and how to care for aging parents.

Disclaimer: This podcast and all related content are for educational purposes only and do not constitute legal advice. No attorney-client relationship is established here. Use of this information without careful analysis and review by your attorney, CPA, and/or financial advisor may cause serious adverse consequences. For legal guidance tailored to your unique situation, consult with a licensed attorney in your state.

Agreeing to serve as an executor, trustee, or agent under a power of attorney often feels like the right thing to do but it’s also one of the most overlooked risks in estate planning. In this episode, Jill flips the perspective and walks through what you need to evaluate before you say yes to a fiduciary role in someone else’s estate plan. From compensation and liability to knowing when to step in and how to step out, this episode highlights the gap between estate planning documents and real-life execution. Because a well-drafted estate plan only works if the people named in it are set up to succeed.

What You’ll Learn in This Episode

Why saying “yes” to serving in an estate plan can create unexpected stress, conflict, and liability 

The five key questions to ask before agreeing to serve as executor, trustee, or agent under a power of attorney 

How estate planning documents often fail to prepare fiduciaries for real-world responsibilities 

Why estate planning isn’t just about documents; it’s about implementation

Key Takeaways for Estate Planning

1. Serving in an Estate Plan Is a Job—Not a Favor. Acting as executor, trustee, or power of attorney requires time, decision-making, and accountability. Estate planning documents should clearly address compensation. If compensation isn’t defined, it can lead to tension, burnout, or refusal to serve.

2. Understand When Your Authority Begins. Powers of attorney are either immediate or springing. “Incapacity” must be clearly defined within the power of attorney document. Without clarity, fiduciaries are left navigating gray areas with banks, doctors, and family members.

3. Know How to Step Down. Estate planning should include a clear resignation process for fiduciaries. Questions to ask include: Who needs to be notified? Is a successor already named? Are you required to continue until replaced?

4. Protect Yourself from Liability. Serving in an estate plan carries real legal risk. Non-professional fiduciaries often lack insurance protection. Estate planning documents should include indemnification language to protect you.

5. You Need Information to Do the Job. Most people step into estate roles with little to no asset visibility. A strong estate plan includes asset inventories, clear instructions and ongoing updates.

Resources & Links

Watch this episode on YouTube: https://youtu.be/QGPDhEcvktg

Limitation of Liability Language: I recognize that the Executor of my Estate may be an individual who is not a professional fiduciary. In order to induce such individual to serve in such capacity, I hereby direct that the assets of the Estate be used to indemnify and hold any individual non-professional fiduciary serving as Executor harmless with respect to any and all acts, except for fraud and bad faith of such individual in connection with (i) the administration of my Estate, and (ii) the investment of assets with respect to my Estate.

Mollie Lacher’s services: https://sunnycareservices.com/our-services/

The Death Readiness Playbook: www.deathreadiness.com/playbook

The Death Readiness Playbook Co-Branding: www.deathreadiness.com/playbookbranding

Connect with Jill:

Did you enjoy this episode? Share it with someone you care about.

This podcast provides estate planning guidance for women and discusses real, practical issues, from caregiving, pre-planning a funeral, how to avoid probate using beneficiary designations, planning for individuals with special needs (and special needs trusts), whether you need a professional fiduciary (trustee or executor), how the estate tax works and how to preserve your legacy.

Tuesday Triage episodes answer questions from listeners like you, from powers of attorney, healthcare advance directives (and whether they work when you’re pregnant), what a Last Will and Testament really is, whether you need a trust, how Medicaid works and how to have senior and elder care conversations and how to care for aging parents.

Disclaimer: This podcast and all related content are for educational purposes only and do not constitute legal advice. No attorney-client relationship is established here. Use of this information without careful analysis and review by your attorney, CPA, and/or financial advisor may cause serious adverse consequences. For legal guidance tailored to your unique situation, consult with a licensed attorney in your state.

Can you stop your child from inheriting money, even if the trust says they should? In this estate planning episode, we walk through a real-life scenario where a mother is trying to protect her son from receiving a large inheritance at the wrong time. Along the way, we break down how estate planning tools like trusts actually work in real life, what trustees can and can’t do, and why you can’t simply “use up” a trust to avoid passing money on. We also introduce a powerful (and often overlooked) tool, a power of appointment, that might allow you to adjust what happens next, even when a trust is irrevocable. Because sometimes the plan is set… but not completely locked.

What You’ll Learn about Estate Planning

Why estate planning often includes trusts, even for families who don’t consider themselves wealthy 

What a trustee does and what fiduciary duty really means 

How the HEMS standard (health, education, maintenance, and support) shapes trust distributions in estate planning 

Real-life examples of what trusts allow, and don’t allow, when it comes to distributions 

Why you can’t “spend down” a trust to avoid passing assets in an estate plan 

How estate planning balances the needs of current and future beneficiaries 

What “irrevocable” means in estate planning, and where flexibility may still exist 

What a power of appointment is and how it functions within an estate plan 

The difference between a limited and general power of appointment in trusts 

Why exercising a power of appointment requires proper legal execution 

How estate planning can be adapted to better protect vulnerable beneficiaries

Resources & Links

Watch this episode on YouTube: https://youtu.be/YBOGjuhJkyA

Estate Plan Audit: Understand your existing estate planning documents and how they actually work in real life: https://deathreadiness.com/audit

Examples of powers of appointment:

Limited Power of Appointment. Upon the Child’s death, the Child shall have the power, exercisable only by specific reference in such Child's valid Last Will and Testament or Qualified Revocable Trust, to appoint the income and principal of the Child's trust as they exist upon my Child’s death, in whole or in part, to or for the benefit of one or more of the descendants of my father, John Smith, and one or more of the descendants of my spouse’s father, Robert Carpenter, in such amounts and proportions, and on such terms and conditions, either outright or in trust, as the Child may direct, provided, this power shall not be exercised in favor of the Child, the Child's creditors, the Child's estate, creditors of the Child's estate, or in any manner that would result in any economic benefit to the Child.  To the extent the Child does not exercise this testamentary limited power of appointment, the remaining assets of the Child’s Trust shall be administered as provided, below, following the Child’s death.

General Power of Appointment. Upon the beneficiary’s death, the beneficiary shall have the power, only by specific reference to this power in the beneficiary’s valid Last Will and Testament, to appoint such portion or all of the assets otherwise distributable from such trust, to the beneficiary’s creditors, the creditors of the beneficiary’s estate, and the beneficiary’s estate. To the extent the beneficiary does not exercise this general power of appointment, the remaining assets of the trust shall be administered as provided, below, following the beneficiary’s death.

Connect with Jill:

Did you enjoy this episode? Share it with someone you care about.

This podcast provides estate planning guidance for women and discusses real, practical issues, from caregiving, pre-planning a funeral, how to avoid probate using beneficiary designations, planning for individuals with special needs (and special needs trusts), whether you need a professional fiduciary (trustee or executor), how the estate tax works and how to preserve your legacy.

Tuesday Triage episodes answer questions from listeners like you, from powers of attorney, healthcare advance directives (and whether they work when you’re pregnant), what a Last Will and Testament really is, whether you need a trust, how Medicaid works and how to have senior and elder care conversations and how to care for aging parents.

Disclaimer: This podcast and all related content are for educational purposes only and do not constitute legal advice. No attorney-client relationship is established here. Use of this information without careful analysis and review by your attorney, CPA, and/or financial advisor may cause serious adverse consequences. For legal guidance tailored to your unique situation, consult with a licensed attorney in your state.

What happens if you don’t name a beneficiary on your retirement account? Most people assume it goes to the estate. But that assumption can be dangerously wrong. In this episode, Jill walks through a real case where getting this wrong would have cost a surviving spouse more than $300,000, and explains what actually controls the outcome in your estate planning.

What You’ll Learn in This Episode

Why retirement accounts don’t follow your estate planning documents. Retirement accounts are generally non-probate assets if beneficiary designations are used, meaning they pass outside of your Will and traditional estate planning structure. The beneficiary designation controls. 

The estate planning mistake people (and professionals) make. Most people assume that if no beneficiary is named, the account automatically becomes part of your probate estate. In reality, the estate planning outcome depends on the plan agreement.

Why “that’s just how it works” can derail your estate plan. When it comes to estate planning, assumptions can be expensive. The better question is:“How do we know that?”

How intestate succession impacts your estate plan. If assets flow through your estate without a Will, state law controls distribution, often producing outcomes that don’t align with your intended estate planning goals. 

What effective estate planning actually looks like. Estate planning isn’t just documents—it’s understanding what controls each asset, asking better questions, and verifying the details instead of relying on assumptions.

Resources & Links

Watch the podcast on YouTube: https://youtu.be/nzQsb2bo9JY

The Death Readiness Playbook (2nd Edition)

Weekly Newsletter (Estate Planning Insights)

Connect with Jill:

Did you enjoy this episode? Share it with someone you care about.

This podcast provides estate planning guidance for women and discusses real, practical issues, from caregiving, pre-planning a funeral, how to avoid probate using beneficiary designations, planning for individuals with special needs (and special needs trusts), whether you need a professional fiduciary (trustee or executor), how the estate tax works and how to preserve your legacy.

Tuesday Triage episodes answer questions from listeners like you, from powers of attorney, healthcare advance directives (and whether they work when you’re pregnant), what a Last Will and Testament really is, whether you need a trust, how Medicaid works and how to have senior and elder care conversations and how to care for aging parents.

Disclaimer: This podcast and all related content are for educational purposes only and do not constitute legal advice. No attorney-client relationship is established here. Use of this information without careful analysis and review by your attorney, CPA, and/or financial advisor may cause serious adverse consequences. For legal guidance tailored to your unique situation, consult with a licensed attorney in your state.

A viral GoFundMe campaign for a DooDash delivery driver reminds us that generosity, while beautiful, can have unintended consequences. In this episode, Jill walks through real-life examples from her law practice to explain how giving money, especially to someone receiving government benefits, can sometimes do more harm than good. Thoughtful generosity often requires slowing down and understanding the full picture.

What You’ll Learn in This Episode

Why good intentions aren’t always enough. Even well-meaning financial help can create serious legal and financial consequences when government benefits like Medicaid are involved. 

What “means-tested benefits” actually means. Programs like Medicaid require recipients to stay below strict income and asset limits to qualify and remain eligible. 

How a financial gift can backfire. A lump sum (like GoFundMe proceeds) count as income in the month received. If retained, the lump sum becomes a resource in the following month. Both an increase in income and an increase in resources can push someone over eligibility limits and cause a loss of government benefits 

The real cost of “help.” A $10,000 gift could trigger loss of coverage and result in tens of thousands of dollars in out-of-pocket medical or nursing home costs. 

Why Medicaid eligibility is not “set it and forget it.” Eligibility is reviewed regularly, and changes in income or assets can trigger reassessment or penalties. 

How small details can cause big problems. Even something like a life insurance policy structured incorrectly can jeopardize benefits eligibility. 

The hidden questions behind sudden wealth. When someone receives a large sum of money: (i) Can they manage it responsibly? (ii) Are they protected from scams or pressure to give or loan money? (iii) Do they have an estate plan in place? 

The core principle: “First, do no harm.” Sometimes the most compassionate action is to pause, ask questions, and ensure your help actually helps. 

Resources & Links

Brittany and Richard’s News Clip on YouTube: https://www.youtube.com/watch?v=wnYmQH4Ivv4

Brittany’s GoFundMe campaign for Richard’s benefit: https://www.gofundme.com/f/give-richard-a-chance-to-rest-again

Episode 20: What You Need to Know about Medicaid and Protecting Your Mom’s House: https://www.deathreadiness.com/podcast/episode-20-what-you-need-to-know-about-medicaid-and-protecting-your-moms-house

Jill’s Tennessee Estate Planning Solution: Estate Planning Solution — Death Readiness

Subscribe to Jill’s email newsletter: Subscribe — Death Readiness

Connect with Jill:

Did you enjoy this episode? Share it with someone you care about.

This podcast provides estate planning guidance for women and discusses real, practical issues, from caregiving, pre-planning a funeral, how to avoid probate using beneficiary designations, planning for individuals with special needs (and special needs trusts), whether you need a professional fiduciary (trustee or executor), how the estate tax works and how to preserve your legacy.

Tuesday Triage episodes answer questions from listeners like you, from powers of attorney, healthcare advance directives (and whether they work when you’re pregnant), what a Last Will and Testament really is, whether you need a trust, how Medicaid works and how to have senior and elder care conversations and how to care for aging parents.

Disclaimer: This podcast and all related content are for educational purposes only and do not constitute legal advice. No attorney-client relationship is established here. Use of this information without careful analysis and review by your attorney, CPA, and/or financial advisor may cause serious adverse consequences. For legal guidance tailored to your unique situation, consult with a licensed attorney in your state.

Your parents paid thousands of dollars for a revocable trust but none of the assets were ever transferred into it. Did their estate planning attorney make a mistake?

In this episode of The Death Readiness Podcast, Jill Mastroianni explains what it actually means to fund a trust, why this step is essential for the plan to work, and who is typically responsible for doing it. She also walks through a real-world example showing how failing to fund a trust can cost families hundreds of thousands of dollars in probate fees and create a huge administrative burden for adult children. 

More importantly, Jill highlights the hidden emotional cost when estate planning work falls on family members instead of being handled during the parent’s lifetime.

What You’ll Learn in This Episode

What “Funding a Trust” Actually Means. A trust agreement by itself does not control your assets. For the trust to work, assets must be retitled in the name of the trust. If assets remain titled in an individual’s name, they may still go through probate, even if a trust exists.

Why People Create Revocable Trusts. Revocable trusts are commonly used for two main purposes:(1) Asset Management During Life--A trust allows a successor trustee (often an adult child) to step in and help manage finances if the creator of the trust becomes ill or cognitively impaired, and (2)Avoiding Probate --Assets properly titled in a trust can pass directly to beneficiaries without going through the court-supervised probate process.

Why Trust Funding Gets Overlooked. Many families believe their estate plan is finished once the documents are signed. But drafting the estate planning documents and implementing the estate plan are two different steps. Common reasons funding doesn’t happen include: clients assume the attorney handles everything, attorneys expect the client to complete the transfers, financial institutions make the process difficult, and the administrative work simply gets postponed.

The Emotional Cost for Adult Children. Adult children often end up acting as: administrative assistants, financial coordinators, and the ones responsible for communicating with customer service representatives at banks and insurance companies, all while balancing their own work, families, and responsibilities. Good estate planning should reduce that burden, not create it.

Who Should Handle Trust Funding?

Attorneys typically draft the documents, but they may not handle the administrative work of transferring every asset in the trust. Funding a trust often involves contacting financial institutions, completing transfer paperwork, updating beneficiary designations, retitling property, and coordinating insurance policies. Because this work is time-consuming, Jill recommends working with a specialist who focuses on trust funding. Jill recommends Mollie Lacher at Sunny Care Services, LLC: https://sunnycareservices.com/

Simplifying Your Financial Life. Jill also recommends simplifying financial accounts. Having assets spread across multiple institutions can make trust funding, and future management, much harder. Working with a financial advisor and consolidating accounts can help reduce administrative complexity, ensure required minimum distributions are handled correctly, and make it easier for a successor trustee or family member to step in if needed. Jill recommends Blair Martin at RW Baird: https://lexingtondt.bairdwealth.com/team/blair-c-martin

Resources & Links

Episode 38, Why You Need (or Don’t Need) a Will in the show notes: https://www.deathreadiness.com/podcast/why-you-need-or-dont-need-a-will

Episode 19, Why You Need (or Don’t Need) a Trust: https://www.deathreadiness.com/podcast/episode-19-how-to-know-if-you-need-a-trust

Mollie Lacher, Sunny Care Services, LLC: https://sunnycareservices.com/

Blair Martin, RW Baird: https://lexingtondt.bairdwealth.com/team/blair-c-martin

Connect with Jill:

Did you enjoy this episode? Share it with someone you care about.

This podcast provides estate planning guidance for women and discusses real, practical issues, from caregiving, pre-planning a funeral, how to avoid probate using beneficiary designations, planning for individuals with special needs (and special needs trusts), whether you need a professional fiduciary (trustee or executor), how the estate tax works and how to preserve your legacy.

Tuesday Triage episodes answer questions from listeners like you, from powers of attorney, healthcare advance directives (and whether they work when you’re pregnant), what a Last Will and Testament really is, whether you need a trust, how Medicaid works and how to have senior and elder care conversations and how to care for aging parents.

Disclaimer: This podcast and all related content are for educational purposes only and do not constitute legal advice. No attorney-client relationship is established here. Use of this information without careful analysis and review by your attorney, CPA, and/or financial advisor may cause serious adverse consequences. For legal guidance tailored to your unique situation, consult with a licensed attorney in your state.