Wed, September 24th, 2008
Is Your Living Trust Up to Date?
It’s a nice feeling to finally have your living trust completed, and funded. But most of us are so busy with work, kids, and everything else, that we forget to occasionally make sure it’s updated. Not only do you need to make sure that all of your assets, including that vacation home or timeshare in Lake Tahoe, or near the beach, whichever you prefer, you also need to make sure that the current naming of trustees is correct. Is the person you named to succeed you still who you would want to succeed you?
If you have a power of attorney or health care directive, has that changed? What about a guardian named in your will? That may have changed, especially as your kids grow up and it becomes more clear who is a better fit for them if ever that time came.
It doesn’t take long to update your trust or your will. But it’s well worth your time.
Posted by Nick Yonano at 08:33
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Labels: revocable trust, wills
