Schwarzenegger Separation Highlights Importance of Living Trusts

Jul 1, 2011 - LegalZoom News Sources
Arnold Schwarzenegger's personal problems highlight importance of living trusts

Americans' fascination with the rich and powerful can be excessive but it is not without its merits, as their lives can teach valuable lessons and act as cautionary tales.

When it was revealed that former California Governor Arnold Schwarzenegger and his wife, Maria Shriver, were separated and considering divorce, the last thing on everyone's mind was how their living trusts would shake out, but one trust attorney states its importance.

"If the Schwarzeneggers divorce, it's likely that they will be gently guided by their attorneys' into updating their trusts and wills," said Julia Wald, Marin estate and trust attorney. "You, too, need to talk to an estate planning attorney if you get divorced. And there are other times when you should find your trust and will and at least read them."