Most people have the same questions about estate planning. What is the difference between a will and a trust? or do I need to go through probate? or will I need to pay estate taxes?
Since one of the goals of this website is to help you learn more about estate planning, I figured that I would share one of those common questions recently sent to me by a client:
I created a trust several years ago which provides that my daughter will receive 1/2 of my estate. But since my trust was created, my daughter gotten married and changed her last name. Do I need to update my trust in order for her to receive her inheritance?
It is not uncommon for people to change their names. A name change is most often due to marriage or divorce, but as the hit TV show Friends taught us, you can also change your name whenever you feel like it. (Author’s note: The episode where Phoebe changes her name to Princess Consuela Bananahammock and Mike changes his name to Crap Bag is pretty accurate. That is actually a legal thing that people can do.)
Considering all the time and care and money you have spent on your estate plan, it is important to make sure that name changes (for whatever reason they happen) do not mess it up.