Aug 7, 2026 · 25 min · 13 segments
Estate planning fact or fiction? The BIF crew puts common myths to the test, breaking down trusts, powers of attorney, estate taxes, and CFP® exam traps along the way.
Jerry MeeHost
Tiffany GuyHost
Kaylee BentingHost
So our first prompt here, we're going to have a persona of maybe an ignorant or a new advisor, or, you know, someone told us something, we heard it in passing.
Our first one is a funded living revocable trust helps your assets avoid probate.
So funder revocable living trusts are really great estate management tools that allow you to basically dodge probate because the whole point of probate is a judge decides who gets your stuff.
And it's public record, which, you know, some people, if not most people want to avoid.
And so by putting your stuff in a revocable trust, it allows you to dodge probate because you know who is getting that stuff when you die.
It's the people who are the beneficiaries on that trust, the trustees on that trust.
You know, anything that's not in the trust at the time of death... does not get included in the trust and will have to get sent to probate.
We have that firm agreement in our marriage, especially when, you know, cookies are involved or brownies.
So our first prompt here, we're going to have a persona of maybe an ignorant or a new advisor, or, you know, someone told us something, we heard it in passing.
Our first one is a funded living revocable trust helps your assets avoid probate.
So funder revocable living trusts are really great estate management tools that allow you to basically dodge probate because the whole point of probate is a judge decides who gets your stuff.
And it's public record, which, you know, some people, if not most people want to avoid.
And so by putting your stuff in a revocable trust, it allows you to dodge probate because you know who is getting that stuff when you die.
It's the people who are the beneficiaries on that trust, the trustees on that trust.
You know, anything that's not in the trust at the time of death... does not get included in the trust and will have to get sent to probate.
We have that firm agreement in our marriage, especially when, you know, cookies are involved or brownies.
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