The Trust Amendment form is a document used to modify an existing Revocable Living Trust. Unlike a will, a living trust operates under contract law, allowing for changes without the need for witnesses or notarization. It is essential for both the Grantors and Trustees to sign this amendment, ensuring that all parties involved agree to the modifications.
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The Trust Amendment form is a crucial document for individuals who have established a Revocable Living Trust and wish to make changes to it. Unlike a Will, which is governed by probate laws, a living trust operates under contract law, offering more flexibility in managing assets. To amend a Revocable Living Trust, the changes must be documented in writing. However, the amendment does not require witnesses or notarization, simplifying the process. It is essential that the form is signed by both the Grantors and the Trustees, who are typically the same individuals in many cases. Once completed, the original amendment should be securely stored with other important legal documents, such as in a safety deposit box or a fire-proof cabinet, while a copy should be kept in a Document Portfolio for easy access. This article will provide a sample filled-out Revocable Living Trust Amendment form to guide you through the completion process, along with a blank form for your use. Understanding how to properly execute this amendment can help ensure that your trust reflects your current wishes and intentions.
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When navigating the process of filling out and using a Trust Amendment form, several key points should be kept in mind. Understanding these elements can help ensure that the amendment is executed correctly and serves its intended purpose.
By keeping these takeaways in mind, individuals can effectively manage their Trust Amendments, ensuring that their estate planning reflects their current wishes.
Revocable Living Trust Amendment
Unlike a Will, a living trust is controlled by contract law rather than by the probate code under state law. An amendment to a Revocable Living Trust must be in writing, but it does not need to be witnessed. It does not need to be notarized. It does need to be signed by the Grantors of the Trust and the Trustees of the Trust since they are both parties to the Trust Agreement. In most cases, with a Revocable Living Trust, these are the same people.
After the Revocable Living Trust has been signed, the original should be placed with your other legal documents in a safety deposit box or a fire-proof cabinet and a copy put in your Document Portfolio.
The following pages contain a sample filled-out Revocable Living Trust Amendment form which will guide you on how to complete the form, and a blank Amendment for you to complete.
THE
REVOCABLE LIVING TRUST
AMENDMENT
THIS
AMENDMENT to the Trust Agreement made this
day of
,
executed between
, hereinafter
referred to as the Grantor(s) and
hereinafter referred to as the Trustee(s).
WHEREAS, the Grantor(s) and the Trustee(s) entered into a Revocable Living Trust
dated, hereinafter called the Trust Agreement, and
WHEREAS, Articleof the Trust Agreement provided that the
Grantor(s) reserve(s) the right to amend in any manner or revoke in whole or in part the Trust Agreement, and
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:
IN WITNESS WHEREOF, Grantor(s) has hereunto subscribed his/her name
to the
Amendment to this TRUST this day of
, 20
.
GRANTOR
STATE OF
)
) SS
COUNTY OF
The foregoing instrument was acknowledged before me this
20, by the Grantor.
SEAL
Notary public:
My Commission Expires:
1
referred to as the Trustee(s).
Grantor(s) reserves the right to amend in any manner or revoke in whole or in part the Trust Agreement, and
WHEREAS, the Grantor(s) is desirous of modifying and amending the Trust Agreement and the Trustee(s) is agreeable to the modification and amendments contained herein,
IN WITNESS WHEREOF, Grantor(s) has hereunto subscribed his/her name to the
Amendment to this TRUST this