Why Is It Important to Review Your Trust?

You’ve created and funded your Revocable Living Trust…what now?

Every three years you should be seeing your estate planning attorney. Why? Well what I’ve noticed is that generally within about three years there are often changes that affect your trust document.  These changes could either be law changes that affect important provisions to your trust, or more commonly, personal changes. Both of these changes are very important for making certain that your documents work accordingly.  Law changes are fairly self-explanatory, but personal changes can be a birth in the family, a death, divorce, a change to the beneficiaries or distributions, a change to the assigned trustee, change in desired guardians for minor children, or other various alterations.

Recently I met with an Arizona client who created a trust with our firm six years ago. She was coming to see me for her first trust review.  She said she had not come in sooner due to a busy schedule, which caused her to disregard our firm’s trust review reminders. I informed her of some important law changes that the Arizona Legislature had enacted in 2009. We also discussed her request to include her son, who she had previously disinherited due to his former drug abuse addiction. Fortunately, she came in to review her trust before she became incapacitated or passed away.  Otherwise, these corrections would not have been made and those personal changes and law changes would not have been addressed in her documents.

This begs the question, has your estate planning attorney been in touch lately? Due to recent law changes and perhaps personal changes, your trust may not be up to date and therefore will not work the way you thought it would.

Please see one of our experienced estate planning attorneys for a free trust review. Since we don’t know what tomorrow holds, make your appointment today to confirm whether your trust is up to date! Don’t delay, call now to schedule your free consultation at 888.222.1328.

What the Attorneys of Morris Hall Can Do For You:
The attorneys at Morris Hall have 100’s of years of combined experience ensuring that families’ assets are protected from probate, unnecessary taxes, creditors, ex-spouses and Medicaid spend-down.  The attorneys also help those in Arizona and New Mexico to apply for and receive Medicaid assistance and Veterans Benefits.  Our Arizona offices are located in Phoenix, Mesa, Scottsdale, Cave Creek, Tucson, Prescott, Flagstaff and Arrowhead.  Our New Mexico offices are located in Albuquerque, Las Cruces and Santa Fe.  Contact us today at 888.222.1328 to schedule an appointment!