Five Trust Funding Mistakes LGBTQ+ Couples Make After Signing Their Estate Plan

For many LGBTQ+ couples, creating a revocable living trust provides peace of mind. It allows you to choose who will manage your affairs, avoid probate, and protect the person you love.

But signing the trust is only half the job.

I've seen couples invest in a comprehensive estate plan only to overlook the implementation. Years later, their trust doesn't work the way they expected—not because of the drafting, but because the assets were never coordinated with the plan.

Here are five mistakes I see most often.

1. Never Funding the Trust

A trust only controls assets that have actually been transferred into it.

Many couples sign their trust believing everything is finished, only to discover years later that their bank accounts, brokerage accounts, or real estate are still owned individually.

A trust that isn't funded may still leave loved ones facing probate.

2. Transferring the Deed but Forgetting the Follow-Up

Recording a deed into your trust is an important step, but it isn't the last one.

After transferring your home, don't forget to update related records where appropriate, including insurance, cooperative or condominium records, homeowners' associations, and local tax records.

Proper implementation involves more than filing a deed.

3. Forgetting to Notify Your Insurance Company

If your home is transferred into your revocable trust, your homeowner's insurance carrier should generally be notified so that the policy accurately reflects the ownership of the property.

It's a simple step that is often overlooked.

4. Forgetting That Beneficiary Designations Override Your Trust

Many assets—including retirement accounts, life insurance, and payable-on-death accounts—pass according to the beneficiary designation on file, not your trust.

I've seen couples carefully draft trusts but never update an old beneficiary designation naming a parent, sibling, or former partner. One outdated form can undermine an otherwise thoughtful estate plan.

5. Assuming Your Estate Plan Never Needs to Change

Relationships evolve. Families grow. Homes are purchased. Investments change.

For LGBTQ+ couples especially, legal rights and financial circumstances may change over time. Your estate plan should change with them.

Every time you acquire a significant new asset or experience a major life event, ask:

"Does my trust still reflect what we want?"

Final Thoughts

Creating a trust is an excellent first step—but implementation is what makes it work. Proper funding, coordinated beneficiary designations, updated insurance, and periodic reviews help ensure your estate plan protects the people you love when it matters most.