Financial Advisors Should Revise Living Trusts Issued Prior 2010 Estate Tax Law

Bestselling Author Jeff Condon has published an updated and revised edition of The Living Trust Advisor: Everything You (and Your Financial Planner) Need to Know About Your Living Trust in which he strongly advises financial planners to ask their married clients if they established their.

Living Trusts before the 2010 Estate Tax changes. Why?

Because if one spouse dies with a pre-2010 Living Trust, the surviving spouse will be burdened with time-consuming and expensive steps with the Living Trust assets that could have been avoided with a simple amendment.

This warning is just one example of the valuable advice Jeff Condon shares with financial planners and advisors in The Living Trust Advisor. Mr. Condon considers the financial planners and advisors integral to an attorney’s estate planning practice. A team for the benefit of their mutual clients.

While the estate planning lawyerrarely sees or communicates with his Living Trust clients, the financial planner is on the “front lines” of their clients’ lives who check in regularly with inquiries about their financial picture and latest family developments, such as births of grandchildren, graduations and deaths. In many cases, the financial advisor also asks about whether his clients’ established their Living Trust and, if so, whether they have updated it to cover their latest family developments. Because a sound plan to leave wealth after death is just as important as the investment strategy which creates that wealth.

So…while the attorney sitsat his desk, the financial planner sits in front of their clients. The financial planner is there with them…and their Living Trust. And with the “Financial Advisor Alerts” peppered throughout The Living Trust Advisor, the financial planner will be able to confidently sift through his clients’ Living Trust and zero in on certain sections that could inadvertently cause harm to his clients’ children and their relationships with each other.

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Estate Planning Law Office of Jeff Condon
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Santa Monica CA 90405
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