Winter usually results in several deaths, but this January DeAngelis Legal was hit especially hard with several long-time and beloved clients dying over the holidays triggering the provisions of their formerly revocable trusts. Over time, we develop an affinity for our clients and learn so much from them that we also grieve their premature death. Implementing a trust that was established years ago, not fully funded, or worse, is updated but not signed, can lead to undesired results. Surviving loved ones are often left to clean up the mess. Nothing compares to having the process go smoothly with a properly drafted and funded trust. Even then, it can take time and energy to implement as administration involves gaining control over, liquidating and allocating assets, filing income and estate tax returns and resolving disputes. Please make sure your plan is updated to reflect your desires, current tax law and properly titled. If you have not reviewed your plan in the last five years, please give us a call.
