One common mistake that people make when they have a spouse or children is to transfer their retirement accounts into their Living Trust. If your attorney suggests that you do this and you have a spouse or children who could survive you -- ask why they are recommending this.
It could be that your attorney is not experienced in estate planning and does not know what should or should not be titled into your Living Trust.
Generally, retirement accounts are not subject to probate because you can name beneficiaries. And by naming your spouse or children as beneficiaries, you are allowing them the most flexibility in dealing with transferring your retirement accounts when you die including the option to rollover the retirement account.
Otherwise naming your Living Trust as a beneficiary may have dire tax consequences to your beneficiaries if it remains held in your Living Trust when you die. Talk to your CPA or financial advisor for more details.
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