You should review your Revocable Living Trust at least every three years because your needs, your family's needs, and the law changes over time.
It is important to work with your Estate Planning Attorney when reviewing your Revocable Living Trust. Your Estate Planning Attorney will advise you on what changes are needed, whether an amendment will suffice, or if you need a new Revocable Living Trust.
Here are just a few questions to ask yourself, and to think about when you and your Estate Planning Attorney are reviewing your Revocable Living Trust.
|
1. Is your Revocable Living Trust more than three years old? |
|
2. Is your Revocable Living Trust comprehensive enough to meet your current needs? |
|
3. Does your Revocable Living Trust work with the current law? |
|
4. Does your Revocable Living Trust conflict with your other estate planning documents? |
|
5. Are your successor Trustees still able and willing to be a Trustee? |
|
6. Do you or any of your beneficiaries have special needs? |
|
7. Do you or any of your beneficiaries receive government assistant? |
|
8. Are you concerned that your beneficiaries cannot handle their finances? |
|
9. Do you need to remove or add beneficiaries? |
|
10. Are your beneficiaries still alive? |
|
11. Does your Revocable Living Trust include provisions for your pets? |
|
12. Does your Revocable Living Trust include provisions for your guns? |
|
13. Does your Revocable Living Trust include provisions for your digital assets? |
