Trust Basics Continuing the Conversation (Part 2)

Hey there, Bridget MacKay with MacKay Dressler Law Firm. This is a continuous vlog about the five most asked questions in our office. I left this one video recording for this one question because it is such an important one. Because those of you out there who have a trust should listen very closely. And those of you who don’t have a trust, run, swim, drive, train, fly to whoever you need to get to, to get a trust done. Because I can’t emphasize enough how important they are.

If you have a trust, what happens to assets that aren’t in it? Okay, so the things, and what does that mean? So, some of you without a trust may not even know what that means. Assets are in a trust, what? So, when you create this document called a trust, you have a house, you might have a checking account, a savings account, a CD, different types of assets, and you’re gonna want to change the name on that account and title on that property to your trust. In other words, Bridget MacKay of the Bridget MacKay Trust will own all of my assets.

And so most of you who have a trust have already done that. So the question really within that framework is, what if I have something, I die, or I become incapacitated, and something isn’t in it. I have an investment account that’s just in my name. So that’s really bad because if it’s out there and you are still alive and competent, you can go to that investment house and say, hey, I have a trust. I need you to change it from Bridget MacKay to Bridget MacKay, trustee of the Bridget MacKay Trust, and it’ll get done. But if you’re dead, you can’t do that anymore. So most plans have what’s called a pour-over will. That means that your family will still have to go through probate, go to court, in other words, and get that asset poured into your trust. So that’s why you don’t want to leave it outside of the trust.

Second, there are some assets that just never go into the trust, usually. And those are retirement accounts. So if you’re worried that you have an account that just has your name on it, double-check and make sure it’s not a 401k, an IRA, a Roth IRA, or a retirement type account. Those typically go to your beneficiaries through your beneficiary designations when you die. Otherwise, they’ll be controlled by your trust if you’re incapacitated through your durable power of attorney, which should also be a part of your estate plan.

I know that was a little meaty, but hopefully I answered it. And I would say the takeaway is look at all of your accounts and make sure if you have a trust that the name on that account is you as trustee of your trust.

For more videos like this one, check out our YouTube page: https://www.youtube.com/@mackaydressler.

• Author
• Recent Posts

Bridget Mackay

Bridget has been practicing law for over 25 years. After graduating from Santa Clara Law, she spent 10 years as a Deputy District attorney in both Solano and Sonoma Counties. After the birth of her daughter, her priorities changed, and she began a practice in estate planning and Medi-Cal benefits planning. This transition was a natural fit and all her skills of listening, compassion and fearless pursuit on behalf of her clients translated well to this area of law. She lives in Petaluma with her daughter and Australian Shepherd, Joey. Read More!

Latest posts by Bridget Mackay (see all)

• Your Estate Plan Should Be a Journey, Not an Odyssey - September 25, 2026
• Missing Routine in Retirement - September 21, 2026
• The Most Important Role In Your Estate Plan - September 8, 2026