Because each document in a Living Trust (i.e. the Trust itself, Durable Power of Attorney, Health Care Power of Attorney, Pour Over Will, HIPAA Agent, and Personal Representative documents, etc.) performs or provides a different service or function, preparing an amendment for each document would be most prudent.
Living Trust Questions
Answers to Frequently Asked Living Trust Questions
Can Assets Be Added to a Trust After the Death of the Grantor?
Yes. If a CD (or any similar asset) is designated as ‘payable on death’ to the Trust, then that asset would be paid to the trust without the need to take any additional steps.
As a Named Beneficiary Designated to Receive a Percentage, How Do I Find Out the Total Value of a Trust?
It is the responsibility of the Trustee named within the Living Trust documents to provide a full accounting of the Trust contents to the named beneficiaries. Make such a request to the Trustee.
If One Parent in a Trust Dies and the Other Wants to Change the Terms and Beneficiaries, How Do We Make Those Changes?
The options to revise the terms of an existing Living Trust document are to prepare a written Trust Amendment, or to redraft the entire Trust document in total.
Can a Living Trust Be Created for a Couple that is Not Married?
Yes, non-married individuals can be Grantors and Trustees in a Joint Trust they create.
In a Trust, How Do I Handle the Sale of My Home and the Purchase of a New House?
If you decide to move to another house that has been deeded to your Living Trust, you, as Trustee of the Trust (which owns the real property through your original quitclaim deed), can execute a Deed selling or transferring ownership of that house to your purchaser(s). Then when you purchase a new home, you can … Read more
If We are Divorcing, Can My Husband and I Transfer a Home in Our Trust to Me Alone?
A few contingencies are required to determine if a home contained within a Living Trust can be transferred from the Trust to one of the Makers as part of a divorce settlement.
Can a Deed of Trust Be Paired with a Quitclaim Deed to Prevent Foreclosure in Default?
So long as the contract is properly written, a provision providing that the buyer will sign a Deed to avoid having the seller go through a foreclosure process to reclaim title to the property would be enforceable.
Why Does a Trust Deed Have ‘a Married Man’ After the Grantor’s Name?
Such language indicates that the grantor is married and, as such, his spouse may have certain dower rights in the property.
Since the Bank My Parents Named as Trustee is Charging a Fee for Services, Can My Siblings and I Name a New Trustee?
Using a bank or financial institution as a Trustee is an option that some Trust donors prefer to utilize. Doing so can offer financial expertise, continuity of trusteeship, etc.