Orange County California

Trust Attorneys


According to a new report, You should modify estate plans in California’s 4th Quarter. The report notes that families should pay careful attention to who will manage the plan when parents age, become incapacitated, or pass away. The importance of this decision cannot be underestimated, as naming the wrong individuals can result in disputes.

Rather than naming some or all of the children to serve as fiduciaries of their parents’ estate, the report suggests naming a more neutral party, such as an attorney or other trusted advisor.

The report further notes that even for estate plans that give property outright following death, these assets will not be distributed until certain administrative tasks have been carried out. As a result, having the right individual serving as trustee or executor is crucial.

Each year, the fourth quarter typically brings about year-end tax reviews and other assessments of family or business finances. For these reasons, it is the perfect time to review the need for an estate plan modification. Perhaps the individual or individuals who were appointed as trustees or executors are no longer the best choice. Similarly, perhaps the family would like to consider naming a professional trustee or an independent trustee to oversee the plan’s administration. This creates an excellent opportunity for amending an estate plan.

 You should modify estate plans in California’s 4th Quarter. View here for more from an Anaheim trust attorney. To learn more about modifying an estate plan in California, contact the experienced Anaheim trust attorneys at the Law Office of James F. Roberts and Associates today for a consultation. Call our office at (714) 282-7488.

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