Monday, October 13, 2008

Check your Trust Plans

From the North Bay Business Journal Commentary: Even if Just 2 or 3 Years Old, Trusts Need to be Reviewed
by Joni Fritsche, CPA AEP.

If your trust agreement is more than 2 to 3 years old, I urge you to dig it out, dust it off and read it.

Things that indicate you're overdue for a check-up:
1. New Spouse
2. Is everyone getting along? Has there been changes in family relationships.
3. Is your tax planning current? Marital deduction is 2 mil now and increasing again in 2009.
4. Are your children grown up? Are they okay or even more than ok financially? Are they healthy?
5. Do you own a business? Has it grown?
6. Are your choices for Trustee still appropriate?

Like Mr. Fritsche, we encourage our clients to stay up on their estate plan. You should review your plan often and understand all the details.
If it's been a while for contact your attorney. If you're a resident of Utah and need someone to help you evaluate or change your plan, we can help at Hughes Estate Group Attorneys.

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