What kind of assets do most people put in an irrevocable living trust?
Jan Meriss Alfonso Assistant at Ascent Law LLC What kind of assets do most people put in an irrevocable living trust? When you set up an irrevocable living trust, you transfer all of your assets into a single legal entity that is controlled by a trustee who will manage them on your behalf. This can be done to ensure that those assets get transferred to the people you have named as beneficiaries once you die so that you don't have to worry about it. Pour-over provisions But when you set up an irrevocable living trust, there are some things that most people add to it. These are called "pour-over" provisions, and they ensure that all of your assets will pass through the trust once you're gone. Outside of the state You might be thinking, "Well, why wouldn't I want my assets to go through my living trust?" The reason is that there are some things for which it's better not to use a living trust. For example, if you own a house outside of the state in whi...