Please ensure Javascript is enabled for purposes of website accessibility

Review and Update Your San Diego Trust

Review and Update Your San Diego Trust – Estate Planning

There are many sound reasons to review and update your San Diego trust every three years or so.  Laws change, lives change, people change, businesses change, the needs of spouses and families change.  The estate planning and trust attorneys at Janathan L. Allen, APC and the accounting and tax professionals at Allen Barron have extensive experience in revocable and irrevocable trusts including, but not limited to:

Here in San Diego the median value of home is more than $640,000.  Without a trust, a house must pass through probate after it’s owners passing.  The probate process takes more than a year, and can cost more than $32,000 for a $640,000 home.  The cost of probate is not based upon the original purchase price or the equity in the home, but the appraised value at the time of probate regardless of the encumbrance.  Placing your house in a trust allows you to save all of that money and pass the home quickly to the desired heirs or beneficiaries.

Trusts provide specific control over how the funds and assets are to be disbursed.  Your trust documents may ensure that a spendthrift child receives money over a longer period of time in a managed way.  You can provide for milestones such as birthdays, college educations or marriage.  Allen Barron’s experienced trust attorneys will help to review and update your San Diego documents to ensure any changes in your life are reflected in the wishes contained within the trust itself.

Trusts are also an excellent strategy for blended families.  For example, if each spouse has children separate of one another it may be important to set aside a percentage of the separate property to benefit those children and ensure they receive the inheritance you intend prior to entering your next marriage.

Take advantage of the integrated accounting, tax, legal and estate planning services of Allen Barron and Janathan L. Allen, APC.  It’s important to review and update your San Diego trust regularly to protect your wishes and the assets you’ve taken a lifetime to build. We invite you to contact Allen Barron or call today to schedule a free and substantive consultation and learn more about recent changes in the law as well as potential developments in the near future.