The beauty of revocable living trusts is the ability to amend them whenever you want to make changes. Amending revocable living trusts is a simple process, but you might want to consult a lawyer to ensure that you use clear and binding language for any amendments.
You can amend revocable living trusts whenever you want.
The biggest benefit of revocable living trusts is that you can amend them whenever you want. Irrevocable living trusts cannot be changed one they are implemented, but revocable living trusts can be amended or canceled entirely whenever you like. However, if you are the trustee and not the grantor of the revocable living trust, you may need special language in the document or the permission of the grantor to amend the living trust.
You can use basic online forms to amend revocable living trusts.
Amending revocable living trusts is a fairly simple process. You can find forms online that enable you to easily amend revocable living trusts, providing the basic language to ensure the amendment is valid. When you file additional amendments to the revocable living trust, you simply complete new amendment forms and append them to the original revocable living trust documents. Make sure you append the amendments to every copy of the revocable living trust; don't forget about a file copy somewhere which could later cause confusion. Even though the basic language is provided in amendment documents, you could amend the living trust in a way that could be misinterpreted or cause conflict if you're not available to interpret the amendment.
Consult a lawyer to ensure you correctly amend revocable living trusts.
Because revocable living trusts are typically such important documents, it's generally worthwhile to consult a lawyer to ensure you correctly amend your revocable living trust. While the amendment language itself is easily available on blank forms, the language specific to your amendment may not be readily apparent. If you're not careful about the language you use when you amend revocable living trusts, other parties interpreting the document may disagree on the intent of your amendment. Therefore, you should consult a lawyer when amending your revocable living trust to ensure your amendment language is clear and binding, especially if you have acrimonious parties who may squabble over your revocable living trust.
Consider an amendment in entirety after you've made several amendments.
While you can amend revocable living trusts as many times as you want by appending additional documents containing the amendments, you should consider an amendment in entirety if you've made many amendments. An amendment in entirety redrafts the revocable living trust to incorporate all amendments into the body of the document itself, rather than requiring parties to pour over an outdated revocable living trust and several pages of amendments to determine the current language. An amendment in entirety can help avoid any potential conflict when several amendments have been made, and ensure none of the amendments can be -lost', as they are incorporated into the body of the living trust itself.
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