After you create a trust for the purposes of estate planning, you may need to change it at some point in the future. An estate plan, including a revocable trust, is like a living document in most cases. This means that as your life changes, your trust must be updated to ensure your assets, your beneficiaries, and you are properly protected.
In many cases, this is simply adding an amendment, such as making changes to only limited sections within the trust. However, with multiple amendments, especially in the same section, it can lead to confusion for your family down the road. A trust restatement may be a better option the next time you’re aware that your California trust must be updated.
A trust restatement completely replaces the original provisions and articles in the initial document and amendments. It is often in your best interest to restate a trust if the majority of the trust needs to be updated or if your original intent in creating the trust has changed. Further, it makes sense to go through the restatement process if you have numerous amendments.
Working with a Pasadena estate planning lawyer allows you to partner with someone who can help you with every aspect of your estate plan, both in terms of creating it now and keeping it up to date with your needs over time. Do not hesitate to contact our Pasadena estate planning lawyers to discuss special considerations for your plans. We can help you create a custom and comprehensive plan.Â
