916-625-6639
Areas & Topics

Five signs it's time to update your trust

According to a new survey, only forty-two percent of U.S. adults currently have a will or trust. While preparing an estate plan does require time and energy, the knowledge that you are protecting your loved ones and the assets you have worked for is all the motivation you need.

Once you have an established estate plan, it only requires occasional maintenance. Thankfully, life provides certain built-in reminders as to when that maintenance is needed.

5 signs that it's time to update your trust

  1. Tax law changes. Any changes to tax law could have an impact on your estate plan, and 2018 brought about many significant changes. Understanding these changes and how they impact your estate is critical.
  2. Children aren't minors anymore. Many parents will leave assets to their minor children in a trust. As children reach adulthood, there are other options to consider.
  3. Assets have changed. An approaching retirement date is a great time to update your assets and dependents.
  4. Loved ones. One thing we know too well is that loved ones come and go. Make sure your trust represents all of the people and pets who you want included.
  5. It's been three to five years. It's recommended that a person update their trust every 3-5 years or when you have significant life changes such as marriage, divorce or the arrival of new children.

Creating and maintaining a trust does require time and energy, but you will sleep better knowing that everything you worked for is protected.

No Comments

Leave a comment
Comment Information

Contact

The Law Office of Alexandria Goff
5440 Park Drive
Suite 102
Rocklin, CA 95765

Phone: 916-625-6639
Map & Directions