Call Honolulu Estate Planning Attorney Michael J. Madison at (808) 594-9917
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Trust Amendment Attorney in Honolulu

Call Attorney, Michael J. Madison at (808) 594-9917 for a free consultation.

Did you create a revocable trust in the past?
Have your circumstances changed since the Trust was originally drafted?

A revocable trust should be reviewed every few years to make sure in reflects your current family dynamics and financial situation. If your trust is not reviewed periodically, your estate could be in administered contrary to your true intent.

I provide free trust reviews to ensure that your estate plan reflects your current aspirations. During that review, we will discuss the assets in your trust, your intended beneficiaries, and your choices for your successor trustee, health care agent, and power of attorney. We will address and questions or concerns you might have concerning your revocable trust.

Call me 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.

Tenancy by the Entirety

In 2012, the Hawaii legislature amended revised statute § 509-2 to allow married couples who have a trust to own their home in the trust as tenants by the entirety. Tenancy by the entirety is a joint ownership 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 is crucial to make sure that your property is properly deeded into the trust. If not, your largest asset could be vulnerable to an expensive and cumbersome probate proceeding.

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? It is crucial that your estate plan reflect your current marital status. Call me today to see what changes need to be made.

Successor Trustee and 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 is 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. Call me today to see how updating these roles can benefit your estate plan.

Need trust amendment help?