HEGGSTAD PETITIONS

In order for a Trust to be effective, it must be properly funded. This means that, to be protected by the Trust, all of the Settlor’s assets must be placed in the name of the Trust.  However, sometimes a Settlor forgets to transfer an asset into the Trust, or a piece of property is not recorded properly, leaving it out of the Trust estate. A Heggstad petition can be filed with the local Probate Court, requesting that any omitted property now be funded into the Trust estate. If approved by the court, the asset will avoid probate, and become a part of the Trust!