WHAT IS
Amendments to trusts are changes made to an existing trust document. They can be necessary for various reasons, such as:
- Changing beneficiaries: You may want to add, remove, or modify beneficiaries based on changes in your family or circumstances.
- Adjusting the trust corpus: You may need to add or remove assets from the trust.
- Modifying the terms of the trust: You may want to change the provisions governing how the trust assets are managed or distributed.
- Addressing changes in tax laws: Amendments can help you stay compliant with changes in tax laws that may affect your trust.
WHAT THIS PROCESS INVOLVES
- Drafting an amendment: A legal professional can help you draft an amendment document that clearly outlines the desired changes.
- Execution of the amendment: The settlor (the person who created the trust) must sign the amendment.
- Recording the amendment: The amendment should be properly recorded to ensure its validity.
HOW WE HELP
We ensure the process is done correctly with the necessary fact checking, and having all the details in order so the attorneys job is easier