Ask Terry Questions revocable trust and pour-over wills

revocable trust and pour-over wills

By Terry Savage on September 09, 2018 | Financial Planning / Retirement

My wife and I have a revocable trust and pour-over wills which were done about 18 years ago. We have since moved and want to know ,since we moved if we need to change anything since our home is paid for and is an asset that would generate money when sold for our beneficiaries. I couldn’t find an address on the trust but need to know if it should be included?
Thank you

Terry Says

What counts is the TITLE of the HOUSE! If you purchased it in the name of your Revocable Living Trust, it is automatically included, no matter what the address. But since you did those instruments so long ago, it might be worthwhile to have them reviewed — and to make sure that all assets you acquired since then (stocks, CDs etc) are properly titled in the name of the trust. And if you moved out of state, you should definitely update your RLT and pour-over will to comply with the laws where you are a resident!

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