A: If your trust was set up over 10 years ago, it may need to be updated to avoid unnecessary costs and administrative work after you or your spouse passes. Trusts created before 2011 were often set up as “A/B Trusts” that must be split into two separate trusts after one spouse dies. Due to changes in federal estate tax laws, this is no longer useful for most couples and results in additional expenses and work to be done. Updating your trust will allow you to fix this problem and make any other changes you would like to make to your estate plan.
If you have any questions about this, please feel free to reach out to us (707-681-5851 or [email protected]) or set up a complimentary consultation at your convenience by clicking on the following link: https://MyNapaLawyer.as.me/