Many trusts can be changed or amended at a future date if circumstances change. Living, Revocable, and Family trusts by definition give the Settlor (sometimes called Trustor or Grantor) the power to revoke and amend the terms of the trust. An amendment can be used to change beneficiaries, share percentages, manner of distribution, trustees, and much more. Consult an attorney for advice on how to execute a legally binding trust amendment.
Sometimes a will needs a change or an update after it has been executed. These changes are called codicils and have many of the same requirements as the original will drafting. In some instances it may be more appropriate to revoke an old will and draft a completely new will. We recommend seeking legal counsel to help determine if you should execute a codicil, will revocation, or draft a new will.
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