A trust is an instrument which protects your wishes and assets, when your plan for your future and your assets changes, your written plan must reflect those changes. Amendments and Restatements make changes, minor and major, to your trust to reflect your wishes and any other changes which may be necessary.
A Trust Amendment is an addition to an existing trust which changes one or more specific parts while maintaining all other provisions of the trust. Minor changes you wish to make to your trust or estate plan at anytime – such as adding specific gifts, changing your successor trustee, or updating your beneficiaries – are possible through amendments.
If greater changes are to be made to your trust – such as adding a new spouse or changing your distributions – a restatement may be necessary. A restatement replaces all provisions or your trust, while maintaining the name and date of the original, to preserve all assets held in the name of the trust.
We are here to help with any changes you wish to make to your trust and estate plan, large or small. Contact our estate planning team to discuss your needs and goals which may require changes to your existing trust and estate plan, we are happy to ensure your wishes and assets are protected even as they change with you.