Update your trust or your family will suffer
- Russell C. Miller, Esq.
- Aug 10
- 2 min read
Recently, I was reminded — in the most heartbreaking way — why keeping your trust up to date is just as important as creating it in the first place. It is important to update your trust or your family will suffer.
Nineteen years ago, I created a living trust for a married couple. Life got busy, as it does, and they never came back to update their documents. Tragically, they both passed away within two months of each other. The husband, distraught at the loss of his wife, hanged himself. I am completely dismayed at this happening and I am completely heartbroken. The son who survives the married couple is really struggling with anger at the loss of his parents. I don't blame him. I pray for his complete healing. Nobody should have to go through what he is going through.
When I began the after-death trust administration, I discovered a painful truth: several of the decedent's bank and investment accounts were not titled in the trust. Over the years, new accounts had been opened, and old ones had changed — but no one had updated the trust or coordinated account titles.
The result?
Extra court filings to get those accounts into the trust after death.
More legal fees that could have been avoided.
Months of delay in getting assets to the children.
Additional emotional stress on grieving family members who were already dealing with a tremendous loss.
A trust is not a “set it and forget it” document.
New accounts, refinancing, changing banks, or even merging companies can all pull assets out of your trust without you realizing it.
Without those assets titled in your trust, your loved ones may have to go through probate or other costly legal processes — exactly what the trust was meant to avoid.
Here’s my advice:
Review your trust every 3–5 years — or sooner if you open new accounts, buy or sell real estate, change banks, or have major life changes.
Keep an updated list of your accounts, policies, and other assets.
If you’re not sure whether something is in your trust, ask your estate planning attorney.
Don’t let outdated paperwork become your family’s burden. Your trust only works if it’s kept current.
If you haven’t reviewed your trust in years, now is the time.
I DO NOT charge to sit down and talk. Please make an appointment to review your estate.
Call my office at (559) 625-4205 or visit www.visaliaestateplanning.com to schedule a review.