A trust amendment is a revision to a revocable trust.
Typically, clients come to us with requests to amend their living trusts to make changes to beneficiary, distribution, and successor trustee provisions.
Generally, to be valid, a trust amendment must be
- In writing
- Signed by the settlor(s)
We prepare trust amendments for our clients.
QUESTIONS REGARDING TRUST AMENDMENTS
Q. How often can I amend my living trust?
A. You can change your mind a thousand times and amend a thousand times. We’ve never amended a trust 1000 times. But we did amend a trust for one particular client about four times in the span of a year as her thinking evolved on how to dispose of her estate.
Q. What is a trust restatement?
A. A restatement is a radical form of amendment. Sometimes, it’s more efficient to replace a trust instrument entirely, especially when the first one was poorly drafted. It’s like replacing the motor in a car. It’s still a ’65 Mustang, but it runs better!