Life changes and Law changes frequently require Trust changes.
A Trust Amendment deletes some provisions of an existing Trust and replaces them with new provisions. Anything not replaced remains in effect and the Trust keeps its existing name. After Amendment, the Trust consists of all provisions not replaced plus new, added provisions. A Trust may be Amended many times.
A Trust Restatement keeps the existing Trust’s name, deletes all its existing provisions, and replaces them with completely new provisions. After Restatement, the old Trust name is retained, but all Trust provisions are new. It’s like putting an old book cover on a new book. Restatement is more cost effective when numerous changes must be made, or when significant law changes affecting Trusts and Estates occur, like in recent years. We will help you with these often crucial changes.
Trust Termination and Replacement happens most frequently following divorce. It also occurs when a survivor’s circumstances change and make a new Trust expedient or desirable