Santa Cruz Estate Planning Attorney

How Often do you need to check your Will or Living Trust?

Having a living trust and estate plan in place may give you peace of mind, but does it ever need to be updated? The honest answer is nothing is built to last forever and your living trust needs to be maintained just like anything else. Your trust is a reflection of (1) your (2) wishes about your (3) property conveyed in a (4) legal manner. Many things might have changed to affect this.

  1. Who "you" are might have changed.
    • You might have been through a divorce
    • You may have gotten married
    • Your spouse may have passed
    • Your health or your spouse's health may be declining
    • If you chose another person as trustee their situation may change
  2. Your Wishes may have changed.
    • It may be as simple as you feel differently now
    • May have been children born
    • Financial changes
    • Minor becomes an adult
  3. Your property may have changed.
    • You may have sold or acquired new property
    • Value of property may have significantly changed
  4. Laws may have changed.
    • New taxes law changes
    • You may have moved to a new state with different laws

A living trust and estate planning are great tools to manage your assets, but as time goes on many things can change and it is important to make sure it is up to date.

DISCLAIMER: This article is meant only to provide information and is not intended as legal advice. If you have questions concerning your particular case you should make an appointment to talk to an attorney or mediator about your options. I would love to hear what other estate planning or familily law issues you find important.

by Keith Dysart, Santa Cruz Estate Planning Attorney and Mediator

Return to Family Law and Mediation Articles