Amending a Trust...

[No2sc2]

I'm new to the Trust, my lawyer doesn't live here anymore so I couldn't contact him for assistant but this is what my Trust states. I hear you must have a seperate page stating the amendments, I could be wrong, just depends on what your Trust says.

3. Right to Amend or Revoke
The grantor reserves the right to alter, amend, modify or revoke this trust in whole or in part at any time
and from time to time by instrument in writing signed by the grantor and delivered to the trustees, provided,
however, that no such change shall increase the duties or liabilities or decrease the compensation of the
trustees without its consent. On revocation of this trust in its entirety, the trustees shall pay, or transfer to,
the grantor, or as the grantor may direct in the instrument of revocation, all of the trust property.

Can someone assist me on how to make the changes? I know I can't just edit and reprint, only if I make alot and big changes, I can delete and reprint it but I just want to add another Trustee.

 

[Crumley25]

The way this part of your trust reads, sounds to me like you could just add the Trustee to it and then reprint as long as you notify and give all trustees a copy of the changes made.

 

[azb]

No need to rewrite a revocable living trust just for a trustee change.

Simply draw up a document on Word similar to this, (and obviously changing the trust name and people's names to reflect your situation);

John Q. Public
REVOCABLE LIVING TRUST

AMENDMENT
THIS FIRST AMENDMENT to the Trust Agreement made this
1ST day of MAY , 2013 executed between
John Q. Public hereinafter
referred to as the Grantor(s) and Robert Smith, Samuel Jones,
hereinafter referred to as the Trustee(s).
WHEREAS, the Grantor(s) and the Trustee(s) entered into a Revocable Living Trust
dated JUNE 12, 2001 , hereinafter called the
Trust Agreement

WHEREAS, the Grantor(s) is/are desirous of modifying and amending the Trust Agreement
and the Trustee(s) is/are agreeable to the modification and amendments contained herein,
NOW THEREFORE, IT IS AGREED:

ARTICLE FIVE SHOULD BE CHANGED AS FOLLOWS:
Donald David Doe should be replaced as Trustee by Dawn Danielle Doe.


Print it out, initial or sign and date. And maybe have a trustee sign and date too, but that's optional.

Put this document in with the original trust documents.

Technically, you could strike out the person's name who is no longer a trustee and/or add in someone else's name in the margin, date and initial. That would be perfectly legal, and in most cases, plenty good enough. But the amendment gives you a little more validity if the trust were ever challenged. (Which is highly unlikely for most of us)

You can use amendments to change/clarify/add/delete anything from people, assets, articles of the trust, or even the name of the trust. The only time a rewrite would be necessary is if you were changing most of the trust, or if you have so many amendments that it gets confusing to understand. Remember, someone is going to have to read this doc and understand it after you die, so make sure it makes some degree of sense. (and why dates on amendments are important)

Az

 

[No2sc2]

No need to rewrite a revocable living trust just for a trustee change.

Simply draw up a document on Word similar to this, (and obviously changing the trust name and people's names to reflect your situation);

John Q. Public
REVOCABLE LIVING TRUST

AMENDMENT
THIS FIRST AMENDMENT to the Trust Agreement made this
1ST day of MAY , 2013 executed between
John Q. Public hereinafter
referred to as the Grantor(s) and Robert Smith, Samuel Jones,
hereinafter referred to as the Trustee(s).
WHEREAS, the Grantor(s) and the Trustee(s) entered into a Revocable Living Trust
dated JUNE 12, 2001 , hereinafter called the
Trust Agreement

WHEREAS, the Grantor(s) is/are desirous of modifying and amending the Trust Agreement
and the Trustee(s) is/are agreeable to the modification and amendments contained herein,
NOW THEREFORE, IT IS AGREED:

ARTICLE FIVE SHOULD BE CHANGED AS FOLLOWS:
Donald David Doe should be replaced as Trustee by Dawn Danielle Doe.


Print it out, initial or sign and date. And maybe have a trustee sign and date too, but that's optional.

Put this document in with the original trust documents.

Technically, you could strike out the person's name who is no longer a trustee and/or add in someone else's name in the margin, date and initial. That would be perfectly legal, and in most cases, plenty good enough. But the amendment gives you a little more validity if the trust were ever challenged. (Which is highly unlikely for most of us)

You can use amendments to change/clarify/add/delete anything from people, assets, articles of the trust, or even the name of the trust. The only time a rewrite would be necessary is if you were changing most of the trust, or if you have so many amendments that it gets confusing to understand. Remember, someone is going to have to read this doc and understand it after you die, so make sure it makes some degree of sense. (and why dates on amendments are important)

Az

Thank you sit! Very helpful... My changes isn't important right now, I think I will wait when my baby nephew is born then I will just rewrite the whole trust since that would be easier to understand than an amendment page. I will keep this page in mind tho! Thanks for the advise!