How Do I Add Beneficiaries to My Trust in Florida?
Full Question:
Answer:
A revocable living trust may be changed according to the terms of the trust document. In order to establish a basic living trust, the Grantor should prepare and execute a document called a declaration of trust, which is similar to a Last Will and Testament. The declaration of trust sets forth the terms and conditions of the living trust. If the trust doesn't provide terms for modifying, it is possible to petition the court to do so on the basis that continuing the trust would defeat or substantially impair the accomplishment of its purposes.
The making of a later trust does not automatically void an earlier trust unless so stated in the trust document. In order to make changes to a revocable living trust, a person may sign a Trust Amendment or sign a complete Trust Restatement. A trust amendment changes specific provisions of a revocable living trust but leaves all of the other provisions unchanged, while an amendment and restatement of Trust completely replaces and supercedes all of the provisions of the original revocable living trust.
For further discussion, please see:
http://wills.about.com/od/overviewoftrusts/a/trustamendment.htm