When to Review Your Living Trust Funding

When to Review Your Living Trust

Do you have a living trust? By reviewing your estate plan on a regular basis, you can be sure that your revocable trust is properly funded upfront.

Living Trust Review

Maybe you took care of your estate planning years ago and in the process you set up a revocable trust based on your personal circumstances and the current tax laws in effect at the time.

For your estate planning to be effective at accomplishing what you want, it is important to periodically review the following:

Your current estate plan accounting for changing laws and changes in personal circumstances.
The titling of your assets to avoid the unintentional expense of probate.
Whether your revocable living trust is funded properly by deciding in advance how you want your assets to be divided between the A Trust and B Trust.
The need for updating powers of attorney for HIPAA.
Any additional documents and information necessary for estate planning.
Planning for qualified plan assets.
Your estate’s need for cash and how this need will be met.

Living Trust Funding

It’s a good idea to review your estate planning at least once each year to make sure that your estate plan remains current. You can track the value of your assets and the funding of your revocable trust over time and make any adjustments in the way you want your assets to be divided between the A Trust and B Trust. This will help you keep your situation current. By keeping your situation current, you can ensure that your estate plan will work exactly the way you want it.