Estate Planning Pitfall: You Didn’t Retitle Assets to be Included in a Trust

Close-up of a physical file folder labeled "Assets," nestled among others, hinting at the meticulous organization akin to LaGrange Estate Planning or Hinsdale Wills.

Using a trust as part of your estate plan can be beneficial in a number of ways, including maximizing tax code provisions to shield assets from gift and estate taxes, protecting assets from creditors or ex-spouses, or helping heirs be more responsible with their inheritance. Revocable living trusts can be a vital part of your …