9 Questions to Ask About Your Trust

You should review your living trusts every few years to ensure they’re up-to-date.  Here are nine questions you should consider when reviewing:

1. Did you choose the right successor trustees?
2. Who should be able to remove trustees?
3. After your death, can your spouse change the distribution of trust assets?
4. Does your trust protect children and grandchildren from divorce and lawsuits?
5. Is your trust funded?
6. Who is the beneficiary of your retirement plans?
7. When will children and grandchildren be able to receive their inheritance?
8. If your trust is named the beneficiary of a retirement plan, does it provide for maximum tax deferral?
9. Does your trust cover the estate tax?

See 9 (Potential) Problems with Your Trust, ElderLawAnswers, Dec. 17, 2013. 

Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.