Orange County California

Trust Attorneys


Why should I consider an Anaheim estate plan update if I no longer have a taxable estate in 2014? If you created your Anaheim estate plan more than one year ago, it is very possible that your trust contains language that is no longer desirable for your estate planning needs and goals. Our federal estate tax system has changed dramatically in the last few years, and with these changes has come many advances in preferred estate planning techniques. Failing to update an older plan to coincide with these important tax law changes may have costly results.

The following are just five of the many reasons why 2014 is an excellent time to consider an Anaheim trust modification:

  1. If your trust was created under a different estate tax system, it may include provisions that are no longer beneficial to your estate plan.
  2. In some cases, provisions drafted under a previous estate tax system may actually produce undesirable results under the new system.
  3. If your estate no longer faces an estate tax issue, your old plan may create unnecessary and burdensome administrative tasks for the people in charge of administering your estate after you pass.
  4. While it’s possible that you no longer have an estate tax issue in 2014, there may be opportunities for you to minimize income or other types of taxes in an updated Anaheim estate plan.
  5. Estate planning documents should be modified to reference the correct tax code sections and laws to minimize confusion or ambiguity during administration.

Why should I consider an Anaheim estate plan update if I no longer have a taxable estate in 2014? Modifying your trust to work more efficiently and effectively under today’s tax law regime is an important step towards ensuring that your estate planning goals are achieved. To learn more about amending trusts in California, view our free guide, The Ten Things You Must Know Before Creating (or Amending) Your Will or Trust. We also encourage you to sign up for our free newsletter for the latest news, tips, and answers to common estate planning questions.

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