Modifying a trust in Orange County can be accomplished by following the terms outlined in the trust or as provided for under California law. Unfortunately, not everyone takes the time to modify his estate plan as circumstances change. Even the best of estate plans can benefit from updating over the course of time. Wondering what might happen if you fail to update your estate plan? The following are six examples:

  1. Your beneficiaries may receive a substantial inheritance at an inappropriate time in their lives. An example would be if your beneficiary is over age 18, but perhaps not mentally or emotionally mature enough to handle such a large gift.
  2. Your successor trustee may be someone with whom you have long had the same type of relationship. For example, if you chose someone based upon their close relationship with your beneficiaries, this may no longer be the case.
  3. You may inadvertently exclude someone from your class of beneficiaries. Life changes over time, and as it does, your desired beneficiaries may change, as well.
  4. You may unintentionally leave a large portion of your assets to someone whom you no longer desire to leave these assets.
  5. Your plan may be out of date from an estate tax perspective, resulting in a hefty tax bill that perhaps could have been reduced through a proper Orange County trust modification.
  6. Your trust may reference laws, rules, or regulations that have since been amended or no longer exist.

For more information about updating a trust or an estate plan in California, contact an experienced Orange County trust attorney today. Call the Law Office of James F. Roberts & Associates, APC, at (714) 459-5481 for a consultation.

James F. Roberts
Founder and owner of the Law Office of James F. Roberts and Associates, a premiere estate planning law firm
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