Trust Amendments

Q. Can a living trust be amended?

A. Yes, it is common to amend a trust from time to time as circumstances change. Some reasons for trust amendments are as follows:

1. Changes in the number of family members, either by birth, death, divorce or marriage.
2. Changes in relationship within the family group.
3. Changes in financial or economic conditions.
4. Change of circumstances or need of a beneficiary due to issues such as disability, handicap, or special education needs that occurred since the creation of the trust.
5. New interests in charitable or educational institutions.

In a trust, the provisions that are most commonly amended are as follows:

1. The preference or order of trustees.
2. The distribution of the assets of the trust estate.
3. Additional provisions for grandchildren’s education or other special needs.
4. The preference of contingent beneficiaries upon the death of any of the primary beneficiaries.
5. Change of any restrictive powers that may be listed in the trust.