A Living Trust Amendment may be used to modify a Living Trust. Continue reading for more information on modifying your Living Trust.
A Living Trust may be amended quite easily. A Living Trust Amendment paperwork may be used for minor alterations. It enables you to make small changes to the original Trust document and should be preserved with your original Living Trust paperwork. Everybody who has a copy of the original Living Trust instrument should be given a copy of the Amendment.
Keep in mind that a Living Trust Amendment should only be utilized to make one or two minor changes. If several modifications are required, or if the changes are substantial (or if you are modifying amendments), you should consult with an attorney about drafting an Amendment and Restatement of Trust document. Using an Amendment and Restatement document, you may avoid having to transfer property into a totally new trust by simply’restating’ the previous trust with amendments.
A Living Trust Revocation paperwork may be used to entirely cancel a trust (for example, if you’ve changed your mind about utilizing a trust or wish to go from a standard Living Trust to a Joint Living Trust).
