153: AB Trusts After 2013: What You Need to Do Now

Absolute Trust Talk

Welcome back to Absolute Trust Talk! In this exciting episode, associate attorney Jessica Colbert steps into the spotlight for the first time, accompanied by managing attorney Kirsten Howe. Together, they continue the series AB Trusts: Do You Have One? Do You Need One? This episode uncovers the surprising reason many couples have AB trusts without realizing it, and what steps you should take if you find yourself in this situation. You’ll also learn why it might be time to reconsider an AB trust, especially if you are the surviving spouse and want to make changes. Don’t miss out on this crucial discussion!

Time-stamped Show Notes:

0:00 Introduction

0:57 Many couples have an AB Trust structure and don’t even know it. In this segment, we explore why this situation is so common. 2:11 Here are two reasons why you may no longer need an AB Trust structure. 2:54 Thinking about updating your trust? The first step is to talk to your attorney. 4:00 An AB Trust only becomes “irrevocable” once a spouse dies, so it’s important to make any changes now while you still can. 4:52 Is "irrevocable" truly unchangeable? Listen as we explore what "irrevocable" means in practice and the options available to modify the trust.