When Should You Update Your Will or Trust? | Estate Planning w/ Jim Burch

In this interview, Erik Soderborg sits down with estate planning expert Jim Burch to answer one of the most common (and important) legal questions: When should you update your will or trust?Whether you already have an estate plan in place or you're wondering if it's time to revisit it, Jim outlines the key life events, financial changes, and family situations that should trigger a review or amendment of your trust or will.Here is the Estate Planning 101 Video for more background:https://youtu.be/nkFQmsdCW-I=============================Send me a [email protected]=============================OTHER ESTATE PLANNING VIDEOS:https://youtu.be/vLC0I19mWNUhttps://youtu.be/jaKuNJsLSX4https://youtu.be/cx8ySoE54Es📌 Topics covered in this video:How often should you update your estate plan?What events require a trust or will amendment?Do you need to update your trust after buying a home or having a child?Common mistakes people make by waiting too longThe difference between amending and restating a trustIf you want to keep your estate plan current and legally effective, this video is essential viewing.👍 Don’t forget to like, comment, and subscribe for more expert insights on estate planning, trusts, wills, and financial protection.Check out our resources at https://TheRetirementNerds.com/=============================Be Sure to Subscribe to our Channel!=============================YouTube: @theretirementnerds ============================================================Join our newsletter for monthly tips, book recommendations, and personal stories!https://theretirementnerds.com/newsletter/============================================================⏰ TIME CODES ⏰0:00 Intro1:12 Changing a Trust1:44 Restated Amendment2:26 Ensuring it is Funded3:18 What Changes Over Time4:15 State-Specific Considerations6:35 What Triggers Needing an Amendment10:07 Process to do an Amendment11:31 Costs to do this12:55 Simple Amendment13:29 Things that DON'T need an Amendment16:28 Changing Trustee Implications18:19 Where to Get Help=============================#estateplanning #willsandtrusts #theretirementnerds #retirementnerds Legal Disclaimer:This is not legal advice. Consult with an estate planning professional before making changes or decisions around your will, trust, or other estate planning documents.