Question 1

The people listed in my estate planning documents have moved.  How do I update their addresses?

Accepted Answer

All addresses and contact information may be updated by hand on Schedule B at the end of your Living Trust.

Question 2

My daughter got married and changed her name.  How do I update this information in my documents?

Accepted Answer

It is not necessary to update your estate planning documents when someone listed changes their legal name. All legal name changes have supporting documents that can be used to prove the individual’s identity (i.e. marriage or divorce certificate).

Question 3

I have a Living Trust and there are changes to my assets (new bank accounts, car, etc.)  How do I update my Trust to make sure they are part of it and protected from probate?"

Accepted Answer

To make an asset part of and protected by your Living Trust, the ownership document must reflect that your Living Trust is the owner of that asset.  
Example:  Mr. Robert Sample has a Living Trust titled "The RS Living Trust", dated 01/01/2000.   If Mr. Sample wants his savings account at Bank of America to be protected by the Living Trust, his savings account must be owned by and titled as Robert Sample, Trustee, The RS Living Trust, dated 01/01/2000, not to Robert Sample. 
For assets such as retirement accounts and life insurance policies, most list their spouse as the primary beneficiary and their Living Trust as the contingent.

Question 4

I sold my home or a property I own.  How do I update my Living Trust to reflect that I no longer own that property?

Accepted Answer

Any asset you dispose of automatically disappears from your estate. However, it may be beneficial to your successors and beneficiaries if you cross that item off Schedule A (asset listing) of your Living Trust.

Question 5

It’s been many years since I created my documents. Do I need to update them?

Accepted Answer

The Living Trust does not expire. An amendment is only necessary if your estate planning instructions have changed.

Question 6

My children are now adults.  Do I need to update my documents to remove the Guardians?

Accepted Answer

Guardianship automatically becomes irrelevant when your children become adults. It is not necessary to remove the language from your documents.

Question 7

What will happen now that my beneficiaries are above the age limits set in the Special Distribution/Children’s Trust?

Accepted Answer

When your beneficiaries age beyond the set limits, the Special Distribution/Children’s Trust becomes irrelevant. It is not necessary to remove or update this section in your estate planning documents.

Question 8

I lost my estate planning documents. How do I replace them?

Accepted Answer

Please contact our office at 800-871-4901 (Monday - Friday, 8 AM - 5 PM PST)

Question 9

How much does it cost to update my documents through Financial Planning Ministry?

Accepted Answer

We do not charge a fee to prepare updates to your documents. Our ministry is supported by a cooperative of churches and ministries nationwide and our purpose is to promote stewardship through estate planning. We only ask that you keep or add a gift to at least one of these ministries in your estate plan.

Frequently Asked Member Questions

Is it necessary for me to attend the seminar?

I have a will. Why would I want a living trust?

What is a Living Trust?

Who should I name as Successor Trustee?

I still have a mortgage on my home. Do I have the property deed?

Where do I find my property deed?

Do I need to list all my children in the estate planning guide booklet? What if I intend to disinherit one of them?

I’ve signed my living trust. What’s the next step?

Which assets should be transferred to the trust?

What about retirement accounts and life insurance policies?

Do I notify my mortgage company that I have established a revocable living trust?

Will my living trust protect my assets from creditors, lawsuits and judgments?"

Does my revocable living trust have a Tax Identification Number (EIN) or do I need to get one?

Can my living trust be changed after it is signed?

What should I do with my documents after they have been signed and notarized?

How often should my trust be reviewed and updated?

Amendments - Updating Your Trust

The people listed in my estate planning documents have moved. How do I update their addresses?

My daughter got married and changed her name. How do I update this information in my documents?

I have a Living Trust and there are changes to my assets (new bank accounts, car, etc.) How do I update my Trust to make sure they are part of it and protected from probate?"

I sold my home or a property I own. How do I update my Living Trust to reflect that I no longer own that property?

It’s been many years since I created my documents. Do I need to update them?

My children are now adults. Do I need to update my documents to remove the Guardians?

What will happen now that my beneficiaries are above the age limits set in the Special Distribution/Children’s Trust?

I lost my estate planning documents. How do I replace them?

How much does it cost to update my documents through Financial Planning Ministry?