What to Bring to Your First Meeting with Your Business Attorney
August 7, 2024
If we prepared a trust for you many years ago, chances are that your family
situation or finances have changed, and it might be a good time to review your
trust. The following are 10-issues to consider for updating your trust:
1. Has a Trustmaker, Trustee, Trust Protector, or Beneficiary recently die, get
divorced, or become incapacitated?
2. Who are the current and successor Trustees and Trust Protectors ?
3. Who are the Trust’s Beneficiaries or Successor Beneficiaries?
4. Do the Trust’s distribution instructions for the Beneficiaries align with your
current estate planning goals?
5. Has there been a change in your financial situation such that the tax savings
provisions of the Trust should be updated?
6. Have assets been transferred into the Trust (or underlying entity) for which
a “Schedule A” of trust assets was not completed?
7. Have assets not been properly transferred to your trust (or underlying
entity) and thus subject to probate court (after your death) or a guardianship
proceeding (if you are disabled)?
8. Does the Trust own your primary residence, and if so, was the “Homestead
Exemption” filed with your county appraisal district?
9. Has your liability exposure diminished significantly over the years, and if
so, would you like the Trust to be simplified to meet your current goals?
10. Has your liability exposure increased over the years? Do we need to
discuss a foreseeable, new, or existing lawsuit?
We can help!
For existing clients, we offer a free consultation to review your estate plan and/or
business structure. Contact us today to schedule your consultation!
Legal Disclaimer – The information provided is designed for general information only and is not intended to be legal advice, nor does it create an attorney client relationship. Consult an attorney before making any legal decisions based on your individual circumstances.
