The High Cost of a Poorly Maintained Trust

Six months ago, we shared why it’s so important to make sure your trust is fully funded. Since then, we’ve unfortunately seen exactly what happens when assets are left outside of a trust—or when a Schedule A isn’t updated regularly.

And the truth is: the consequences are more than just inconvenient. They’re expensive, stressful, and time-consuming for the families left behind.

What Happens When Assets Aren’t in the Trust?

When someone passes away and their assets aren’t properly titled in the name of the trust, or they aren’t clearly listed on the trust’s Schedule A, their loved ones may need to file what’s called a Heggstad petition.

This is a court process asking a judge to confirm that the asset should have been included in the trust, even if the paperwork wasn’t done correctly during life. While this can sometimes save the day, it comes with real costs:

• Attorney’s fees: Anywhere from $4,000 to $9,000, depending on the complexity of the case.

• Time: It typically takes 5 to 12 months after death before the court resolves the petition. That means your loved ones are left waiting for assets that were supposed to transfer smoothly.

• Uncertainty: The outcome often depends on whether the asset was clearly identified in the trust or Schedule A. If not, the court may decide it doesn’t belong in the trust at all.

Real-World Impact

We recently helped a family who faced months of delay because certain assets weren’t titled properly, and the trust’s Schedule A hadn’t been updated regularly. To make matters worse, creditors used that uncertainty to challenge whether those assets belonged in the trust at all.

Instead of being able to quickly distribute assets to beneficiaries, the family was stuck in court, spending money and enduring stress at an already difficult time.

A Simple Step to Avoid All This

The good news is that this entire situation is preventable. By reviewing and updating your trust regularly, you can make sure:

• All assets are properly titled in the name of your trust.

• Your Schedule A is current and reflects your life as it changes.

• Your loved ones won’t be left with expensive and time-consuming court battles.

Take Action Now—for Peace of Mind Later

We don’t want to see more families in court when a simple review could have prevented it. That’s why we’re offering a one-hour trust review at a reduced rate until December 1, 2025. Use code FUND when you book online.

During your review, we’ll:

• Look at your Schedule A and other financial records you bring in or provide prior to your scheduled meeting.

• Confirm your assets are properly titled.

• Make recommendations so your plan truly works when it’s needed most.

👉 Call us today or use this link to schedule your trust review. A small step now can save your loved ones thousands of dollars and months of unnecessary stress later.