Trust Amendment Attorney in Honolulu
Serving Hawaii Residents On All Islands
Did you create a revocable trust in the past?
Have your circumstances or your assets changed since that Trust was created?
Your revocable trust should be reviewed every few years to ensure it reflects your current family dynamics and financial situation.
If your trust is not reviewed periodically, your estate could be disbursed or divided up against your intended wishes.
How a Trust Review Can Save You Money & Headaches
I provide free trust reviews to make certain your estate plan reflects your current desires, not the court's.
During your review we discuss the assets in your trust, your intended beneficiaries, and your choices for your successor trustee, health care agent, and power of attorney.
We address any and all of your questions or concerns you might have concerning your revocable trust.
Contact us today to set up a free review of your current estate plan and see how an amendment to your trust can benefit you and your family.
What Can You Change in a Trust Amendment?
Tenancy By The Entirety
In 2012, the Hawaii legislature amended revised statute § 509-2 to allow married couples to own their home in their trust as tenants by the entirety.
'Tenancy by the entirety' is a joint ownership and asset protection only available to married couples.
It prevents a creditor of one of the spouses from attaching a lien on the home to satisfy the spouse’s debt.
Any married couple who formed a trust prior to 2012 should have their trust amended to take advantage of the new law.
Purchasing Real Estate
Have you purchased new or additional real estate since your trust was drafted?
It's crucial to make sure your property is properly deeded into the trust.
If not, your largest asset could be vulnerable to an expensive and cumbersome probate proceeding.
Your Beneficiaries
Does your trust reflect your desired distribution of your estate? As families grow and change, it is important that your trust reflect these changes.
Have you thought about what happens to your home after you pass away?
Have you thought about using your trust assets to set up a 529 for your grandchildren?
Do you have elderly parents that might need to be taken care of if you pass way before them?
A review of your trust can ensure that your beneficiaries are provided for in an equitable manner that follows your wishes.
Marital Status
Has your marital status changed since your trust was written? Have you gotten divorced or remarried?
Your estate plan needs to reflect your current marital status.
Call me today, (808) 594-9917, to see what changes need to be made.
Successor Trustee & Agents
Do you remember who you selected to be your successor trustee? Do you remember who you selected to be your health care agent? Your power of attorney?
As time passes, it's common for people to want to change these decisions. Maybe your successor trustee has passed away.
Or maybe your children are now adults and you would prefer they execute these roles.
Amend Your Trust Today - It Can't Wait
Call me today at (808) 594-9917 update your trust. Get it done for not only your peace of mind, but your loved ones'.
