Will Your Trust Sink or Sail?
26+ years of practice, our firm has observed countless
attorney prepared trusts sink at the time of death of the
trust maker. We find it amazing that
anyone would go to all of the trouble to create a living trust....and
then ignore it for years with no updating.
If this describes you,
please understand what you are really doing by trying to save money
while you are alive on trust update fees. If
your trust was a car, you are buying it and buying gas only, never changing the
oil, checking the tires, or replacinc the brake pads. Sooner or
later -- that means you will be walking, not riding! Without service
work, your car will eventually fail!
The same is true
with your Living Trust! The only two things that are
certain in this world are death and taxes. That is why a proper
legal instrument such as a Living Trust is so important to help protect
against the harshness that death and taxes can inflict. Don't let
no procrastination or penny pinching ship your current
trust when you die!
Our update services includes a 360 degree view from a professional advisor
multiple licensed in insurance, real estate and document preparation and
nationally known and published in retirement and estate plan tax matters
(a practicing estate consultant and accountant).
your trust remains up to date and fully funded at all times.
Past updates you may have missed include National law changes
such as privacy law under HIPAA and national health
care; the 2009 effective date for the Arizona Trust Code
(ATC), and others. Don't let your Living Trust become a
problem when you are no longer here.
The Question Remains:
trust sink or sail on when you die?
EDUCATION: Arizona Trust
There are numerous provisions of the ATC (Arizona
Trust Code) now effective in Arizona that apply to all trusts, even if a
trust has no refence to the ATC that became effective January 1st, 2009.
ATC provisions apply when ANY Arizona living trust becomes "irrevocable" for any
and all Arizona Trustors (Settlors, Creators, Grantors,
etc.) who may also serve as their own Trustee. (If their residency
is in Arizona) It also applies to all Arizona Trustees if domiciled
here, even if the Trustor resides in another state.
Any marital trust will normally become irrevocable at
the time the last Trustor either dies or becomes disabled. Or, if single,
when the Trustor dies or becomes disabled. (Other conditions could
be drafted whereas the trust is irrevocable from inception or upon some
other contingency triggered other than by death or disability.)
The ATC has mandatory provisions
that the Trustee will be subject to. Failing to draft these
new provisions is no excuse for your Successor Trustee who will have to
adhere to all mandatory provisions that apply to an irrevocable trust
governed by Arizona law.
Failing to state ATC
provisions in an Arizona trust could force being subject to
Arizona probate court, causing excess delay and
expense no one wants. Updating your current trust is
Using our "AMENDMENT IN THE ENTIRETY" new
trust is normally the least expensive way to correct missing
provisions in an older or out of state trust. (While preserving your
trust provisions drafted previously)
TWO CHOICES TO GET YOUR TRUST
CORRECTED WITH MANDATORY ATC STATUTES
First, if we didn't create your trust,
we will review your trust at no cost or obligation to report
any missing, out of date, or out of state provisions that no
longer apply. You can then either go back to your original source to have these
important updates drafted, or consider having our firm draft the
Over nine years after the
Arizona Trust Code became law, we still find many trusts
that have not been updated. Recently, a 2014 lawyer
prepared trust was replaced since it failed to address the
ATC provisions! (We always preserve your
original trust signing date)
Of course, pricing is important
and we understand that.
But, price alone means nothing if you do not understand how to compare.
Your two choices are to go back to where you got your trust and get
a price quote if they are still available to you.
Your second choice is to let us
professionally serve as your new AZCLDP (Arizona Certified Legal Document
Preparer), and hire us to draft a modern trust update with all the
important provisions you need. (Including many important
provisions others never
thought of drafting to help protect you anywhere in the
world, control your large IRA at your death, or handle the
tricky circumstances of providing for a disabled child)
We are licensed by the
State of Arizona and supervised by a committee under the
Arizona Supreme court. You can be assured of accuracy and
quality in our documents which are known to be some of the most thorough
and legally correct in the Valley!
Beyond that, our Legacy
Trust Portfolio documents are some of the
fanciest looking documents as well. Every trust is printed on high
quality linen paper to last for years. Our document
preparation practice is dedicated solely to preparing estate planning legal documents.
And, we have practiced professionally here in Arizona since 1991!
WHY FSI'S TRUST UPDATE MAY BE
YOUR BEST CHOICE
We include everything in
your trust update you could possibly need. All at one
set price. And, we assist in any funding that wasn't done
properly in the past, to make sure your trust doesn't fail
convenient trust update service assures your money
is WELL spent and the documents are legally CORRECT.
10 THINGS YOU
WILL GET WITH YOUR
FSI TRUST UPDATE
(That your current trust provider may not
1. An entire amended trust known as an
"Amended Trust in the Entirety". Every provision and update in
our 2018+ model is in your update!
2. Our trust is endorsed for HIPAA health
provision waivers and takes the strongest stand to eliminate failure due
to HIPAA law. Make sure your trust is HIPAA friendly!
3. Our trust contains important
specific state statutes and is organized to find information fast during
a time of need.
4. Our trust is part of a
professional trust portfolio available with all Power of
Attorney, Pour Over Will, and other funding forms needed to be sure your trust
estate is fully managed and funded. (Our marital version is over 280 pages!)
5. Our trust contains provisions
for pets, overlooked by many. Many use us for that reason
6. Our trust contains national
(inter-state) and international portability provisions to extend your
legal coverage world wide!
7. Our trust contains
proper portability provisions for the highest net
worth clients and optional bypass A/B trust provisions and planning.
And proper Medicaid planning options for
8. Our trust is one of few that has
comprehensive provisions for large IRAs and allows IRAs to be left in
trust. This is done by meeting minimum standards required by the IRS.
We are nationally known and quoted Inherited IRA consultants!
9. Additionally, we
build in "disclaimer" options for total
surviving spouses or other heirs.
10. FSI offers optional Special Needs
trust consultations and one of the most modern,
comphrehensive SNT for clients with disabled minor or adult
children. And special consulting on other custom provisions
you would like drafed in your new revised trust.
To Order an Update,
Disclaimer: The information
contained on this site, though deemed reliable and accurate, is solely
the opinion and statements of the advisor profiled. Therefore, it should
be considered "general" in nature and no action should be taken based on
this information until such time your specific situation and
circumstances can be reviewed and analyzed by competent and qualified
tax, insurance, legal, and/or other financial advisors. This information
is not intended, nor should be construed as legal advice. FSI can not
and will not give you legal advice. If you need legal advice, we can
refer you if you desire and request it. Founded in 1990, FSI is a
long-term Financial Advisory and Arizona domiciled Corporation now
providing services nationwide and in some foreign countries. Services
profiled herein are available unrestricted to Arizona residents.
Residents outside of Arizona are eligible for certain consulting
services and to legal (lawyer) referrals by our firm when requested of
us. For Arizona residents, communication with an Arizona Certified Legal
Document Preparer (AZCLDP) are private and confidential but are not
"privileged", such as they would be with an actual Lawyer.
Besides being a licensed Arizona Certified Legal
Document Preparer, Mr. Anderson is also an Arizona
Professional Accountant/Consultant and registered IRS tax
preparer and ERO (Electronic Return Originator) agent/firm.
He also is an Arizona licensed Professional
(Realtor®)/consultant (with Realty One Group) and a licensed Professional insurance
agent and corporation for life, health or annuity sales.
and a Terms & Conditions of Use Policy which
can be referenced or reviewed by clicking on the highlighted text in
this sentence above.
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