What is a Living Trust Amendment?
Before attempting to amend your Joint Living Trust, it is important to understand the rules governing such amendments. Failure to follow these rules and an attempt to change your Joint Living Trust by such methods as crossing out a name or penciling in an addition could have the disastrous effect of voiding portions of, or perhaps even your entire, Joint Living Trust. Changes may be required if any of the following changes have occurred in your circumstances: A substantial change in your wealth – changes in ownership of property included in your trust – beneficiaries in your trust have died or you wish to now exclude them – a successor or alternate successor is no longer able to serve or no longer wishes to serve – a change in your state of residence – marriages or divorces since the date of your trust – the birth or adoption of any children since the date of your trust – if you wish to make any other addition, deletion, or other changes to your trust. Definition of a Living Trust Amen
