Maintaining your entity: What you need to know about your living trust.

In this episode of Coffee with Carl, attorney Carl Zoellner covers everything you need to know about maintaining your entity and living trust.

It’s no Game of Thrones, but it’s turning out to be quite a series. 

And continuing along with our Annual Expectations series, I want to talk a little bit about your living trust. 

If you’ve formulated a living trust or have had your living trust restated with Anderson, there are some things to consider on an annual basis, like, there being no direct annual cost to maintaining a living trust.

When it comes to the living trust, your additional expenses would be if you needed amendments or changes to the trust itself (usually pretty small fees). 

But, should you need a complete restatement, or if you want a refresh on your existing living trust, we can do that too. Full transparency, this service is basically the cost of a new trust. 

The nice part about the restatement, all the assets that are titled in the trust remain there. It’s just a refresher on the terms in case something significant happens. So just to reiterate, as far as annual costs to account for with your living trust, there really aren’t any. 

The cost comes in if you need to do an amendment or a restatement. And in that case, it’s usually a pretty reasonable charge to get those things updated. 

The Takeaway 

If you have additional questions and are already a client, feel free to ask those questions of your advisor attorney, even folks on our business continuity team can help you with that. Also, if you need a breakdown of those things, please let us know. 

So until next time, thank you for joining me with another episode of “Coffee with Carl.” If you do like this content, I would encourage you to subscribe and hit the like, so we can continue to make more content.   

Keep taking advantage of our FREE educational opportunities and the free content we put out on the web. So that’s Toby’s Tax Tuesday, our tax and AP events for our clients who’ve already gone through our Tax and Asset Protection event. 

Our Structure Implementation Series is fantastic. That answers a lot of the questions you have in the beginning. So there are a lot of different educational opportunities out there. One of my favorites as well is our Infinity Investing Workshop

Resources mentioned in this video:

Free Strategy Session with an Anderson Advisor

Receive a detailed risk assessment to assist in lowering problem areas that could wipe out all of your assets with one wrong move. Speak with an Anderson Professional Advisor to get your FREE Strategy Session. Limited-Time offer: FREE (a $750 value.)