Living trusts transfer your personal assets to a trustee, who has the legal authority to manage your assets and distribute them according to your will and instructions. Revocable trusts can be legally amended at any time through an amendment to the trust, making it an integral part of your estate planning.
Estate Planning and Revocable Trust Amendment Steps
Your first step is to get a copy of the revocable trust. Keep it in a safety deposit box or some other safe place, and make sure that your copy of the trust is the newest version. Also, your trustee should be aware of the amendment you want to make.
Your revocable trust should follow Deleware’s guidelines. Before writing your revocable trust amendment, you should speak to an estate planning attorney for guidance. In most cases, you’ll want to use a blank page and write the word “Amendment” at the top of the sheet to show you made an amendment.
Your second step is to sign and date the amendment after you have finished revising your revocable trust. The amendment should have a least of two signatures. It doesn’t matter which two people you choose to sign the amendment, as long as they are not the trustee. A notary public needs to be a witness and verify the signatures. Also, you want to make sure anyone named in the trust is aware of the new amendment.
When you are working on your estate planning, and you want to amendment your revocable trust, it might be wise to speak to an estate planning attorney in Delaware to learn more about revocable trust amendments.