With a revocable trust, there’s always the possibility that you want to change things in the future. Changes in your individual life might prompt you to make updates to your original living trust. You might also want to have your trust reviewed by a Pasadena estate planning lawyer if it’s been a few years since your initial trust was established. This is your chance to review your personal circumstances and make updates as needed.
Your estate planning lawyer might sit down with you and make a recommendation for a trust restatement or an amendment. A trust restatement is more appropriate for cases in which the whole of the trust is very outdated or because the majority of information inside the trust is no longer wanted by the creator. An amendment, on the other hand, is best for those people who only need to make small changes and adjustments in their trust plan.
If you need to make changes to your existing trust, it’s best to consult an attorney with regard to doing so. Making handwritten updates on your trust, for example, leaves far too much room for conflict later on due to arguments over validity and intent.
Whether an amendment or a restatement is required, the clarity provided by a formal update ensures that you and everyone impacted by the trust is clear about the goal of the changes. If you need help figuring out what is recommended for your situation, schedule time to sit down with a qualified Pasadena estate planning lawyer today.