I Updated My Living Trust Today
 

I updated my Living Trust today. In 1997, when I created it, I was told to have it reviewed every ten years, since some elements of state law change periodically.

I engaged Attorney Mary Trotter, of Trotter & Soulsby, PA, to make the needed revisions. I am very favorably impressed by the work product that she provided. I left her office with a very thorough document which was superior to that which had been provided by the attorney for my tenth year revision, and a good understanding of what I was signing.

I had met Mary earlier when I accompanied Barbara to get her Trust revised, which was an urgent need since it had been prepared in another state in conformance to that state's laws. She impressed me then, and I am even more impressed now.

If your Trust is over ten years old, was prepared in another state, or you don't have a Trust, you might want to consult Mary Trotter.

Agree 100%. I am proud to say Mary is our attorney, also.

Thank you for your post...a good reminder for all. We went to one of Atty. Trotter's seminars and will likely use her when it's time to update our trust.

One thing for everyone to understand is if your house is in a trust from the previous revision, please either update your deed or keep a copy of your old trust since you will need that when you sell the house. The date that is associated with the trust on your deed is the one that they need to have when you sell your house.

The first paragraph of my revised trust specifies that it is a revision of the __________ Living Trust dated __________. My attorney said that everything that funded the original trust remains in effect, including my home, and that I do not need to make any changes.

Interestingly, she also told me that under Florida law, and since I receive a Homestead tax exemption, upon my death the ownership of my house will be re-titled to my heirs (my children) as co-owners, and is not subject to disposal by my successor Trustee(s).

But, of course, I also kept copies of the original and earlier revision. Thanks for pointing that out VillagerNut.