Does Your Trust Really Work?

Monday, April 23

Have Your Family Trust Reviewed By An Expert

Why not have your family trust reviewed by a highly trained, expert trust attorney free of charge? Over 300 families meet with our attorneys every year to go over what they already have in place and consider making updates. Some families have questions about their existing Trust documents. Recently a married couple came in for their free trust review. Mom and Dad made a will and revocable trust when the kids were born years ago. Time flies and now the “kids” are in their 30’s and they’ve been blessed with several grandchildren. Mom and Dad now want their adult children to take care of things, rather than the (now aged?) aunts and uncles they chose 25 years ago. Those old documents must be revised to reflect this new reality! Sometimes starting a new business or changing jobs is the spark that highlights the need for new or different protection; do these changes fit into their estate plans or must we take a fresh look? Oftentimes our families reach out just because they’d like a refresher on the mechanics of the Trust or want to make a few specific changes to a relatively new trust. Your complimentary trust review can answer those questions!

Sometimes families have a trust drafted by another law firm (hard to believe, but true!) and they just want a second opinion on that pile of papers they’ve been ignoring for the last number of years. Over 90% of these trusts (in our experience) will likely go through probate unless fixed. Now you’re wondering, “How can it be that most trusts fail?” The sad fact is that unless you, the client, do the hard work of retitling your property into your trust, changing beneficiary designations, and following through with the financial institutions, your trust will fail the most basic test: avoiding probate. Unfortunately, most law firms do NOT fund their own Trusts. We do!

Another reality usually overlooked or dismissed by the unfortunate “head-in-the-sand” approach of ostrich-type estate planners is that of long term care! Typical trusts do not give you all the protections you deserve and thought you were getting. Our “eyes-open” “no stone unturned” methodology means that your trust will shelter assets when you or your spouse is facing the bankrupting burden of long term care costs or the frustrating, ruinous drain of lawsuit expenses. Why not find out whether you are truly protected or living in reckless risk? Your free Trust Review means accurate, reliable information and solid, commonsense guidance to discover what type of trust is most appropriate for your family. Call now or put it off for another year or so… we’ll be right here when you decide to take positive action!

Our LifePlan Workshop guests know how important it is to have the right Trust to secure the many benefits of comprehensive Trust planning. Trust assets not only avoid probate, Trusts also make it so much easier for the person you trust to maximize your life savings if you become incapable of managing your own assets. Our searching and exhaustive review is NOT limited to trust documents of course! All Estate Planning tools, including Wills, Financial and Healthcare Power of Attorney documents, and Designations of Funeral Representative are put under the microscope. Whether your documents were drafted by our office, or by other attorneys, you’ll get the straight story. Our recommendations, tailored to your unique needs, will be honest, clear, concise and comprehensive.

What Topics Besides Funding Do We Cover in a Trust Review?

At our Trust Reviews, we cover many topics. Clients ask a variety of questions and the answers we provide include the following information:

Who are your current and successor trustees?
What are the terms of your trust?
Who are your beneficiaries and contingent beneficiaries?
Does your Trust still suit your needs?
Do you have a current and properly drafted Durable Power of Attorney for Financial?
Do you have a current and properly drafted Durable Power of Attorney for Healthcare?
Has the law changed, and should your documents be updated to take advantage of a new law?
What changes have happened in your life that might require updating your trust documents, (death, marriage, divorce, births, substantial changes in your finances)?
Is your Trust Funded?