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Make sure your trust is updated regularly. Tax laws, family circumstances and financial situations are always changing. The living trust you create today may not be appropriate for you in five or 10 years, and the choices you have made with regard to trustees and guardians may no longer meet your needs. For these reasons, it is important to review your living trust with your attorney at least every three years.

Remember These Other Important DocumentsRemember These Other Important Documents
In addition to considering a revocable living trust, make sure you have a will, a living will, a health care power of attorney and a durable power of attorney for financial matters in place.

We hope our website has answered many of your questions about living trusts. Here are some actions to take to learn more about this estate planning tool.
  • Set up a meeting with your estate planning attorney to determine whether a living trust is right for you.
  • Learn more about giving back through your will and living trust.
  • Contact Jackie Peterson at 507-933-7543 or jpeters9@gustavus.edu with any questions you may have about naming Gustavus Adolphus College in your living trust or other estate plans.
  • If you'd like to remember Gustavus Adolphus College after your lifetime, share our bequest language with your estate planning attorney. The official legal bequest language for Gustavus Adolphus College is: "I, [name], of [city, state, ZIP] give, devise and bequeath to Gustavus Adolphus College [written amount or percentage of the estate or description of property] for its unrestricted use and purpose [or specify purpose]."