Why Trust Reviews Are Essential for an Effective Estate Plan
Estimated Reading Time: 5-6 minutes
Most people think once they’ve set up a trust, the job is done. The truth? An outdated trust can cause the very problems you were trying to prevent—conflict, probate, and assets falling into the wrong hands.
You created a trust to protect your family and give them peace of mind. But an estate plan is not something you set and forget. It’s a living plan that needs regular attention to keep pace with your life, your assets, and the law.
Think about it this way: you wouldn’t keep wearing the same clothes you bought ten years ago without checking if they still fit. The same is true for your trust. It should reflect your life today—not the life you had years ago.
Why Your Trust Needs Ongoing Reviews
Life changes, and your trust should too. Marriage, divorce, the birth of children or grandchildren—all of these milestones change who you want included in your plan. Buying property, starting a business, or receiving an inheritance also require updates so those assets don’t end up in probate. And sometimes, relationships shift. A trustee or guardian who once seemed like the right choice may no longer be the best fit.
Laws change as well. Federal tax rules shift with new administrations, and state trust laws are updated regularly. A trust written before these changes could contain outdated provisions that either no longer help or may even create problems. Regular reviews make sure your trust takes advantage of beneficial updates and avoids costly mistakes.
How Often to Review Your Trust
As a general guideline, it’s wise to review your trust every three to five years. That way you catch gradual changes in your life or the law.
Certain events call for an immediate review—such as marriage, divorce, the birth or adoption of a child, the death of a trustee or beneficiary, moving to another state, or major financial changes.
What Happens If You Don’t Review Your Trust
An outdated trust can create the very problems you tried to avoid. New assets may bypass your trust and go through probate. Beneficiaries may no longer reflect your wishes. Outdated provisions can cause confusion or conflict among family members. In some cases, beneficiaries could face higher taxes than necessary.
Even if no changes are needed, the review process itself provides peace of mind. You’ll know your trust still reflects your wishes and will work the way you intended.
Keep Your Family’s Future Protected
Your trust is more than a document. It’s a reflection of your love and commitment to your family. By reviewing it regularly, you show the same care and foresight that led you to create it in the first place.
As your Personal Family Lawyer® Firm, I make trust reviews part of our ongoing relationship. The process is simple, and it ensures your plan will be ready when your family needs it most.
Your life changes—and your trust should too.
📆Schedule a 15 minute call with April, our Client Services Director, to get started.
