Is Your Trust Up-to-Date? Key Considerations for California Residents

 Is Your Trust Up-to-Date? Key Considerations for California Residents

Trusts are a valuable tool for managing and distributing your assets, but they require regular review to remain effective. California residents should ensure that their trusts are updated to reflect changes in state and federal laws, as well as personal circumstances. For example, new tax laws or the birth of a grandchild might necessitate adjustments to your trust.

Failing to fund your trust is another common oversight. Assets that are not properly titled in the name of the trust may be subject to probate, defeating the purpose of creating the trust in the first place. Reviewing your trust with an estate planning professional ensures that it continues to meet your needs and protects your assets.