Full question:
When I have a Trust and am the Settlor and Trustee and I want to revoke paragraph 6B of my original Trust and rewrite it, can I do that? Is it called a Codicil or Addendum? Does it then go through Probate, even though the original Trust doesn't. Is there a form that I could use for this purpose?
- Category: Trusts
- Date:
- State: Nevada
Answer:
I assume from your question that this trust is revocable. You do not indicate whether the terms of the trust instrument place any limitations or prerequisites on the settlor’s ability to amend. If any such limitations or prerequisites exist, then the answer to your question should be evident from the terms of the trust instrument. A trust may be altered or have assets removed from it if it is a revocable trust. If the trust is irrevocable, assets generally may not be removed from the trust. Whether the trust is revocable or not will depend on the language of the trust. The language used in the trust terms will also govern the manner in which the trust may be amended, such as who has the power to make amendments, what types of amendments may be made, and if any others must consent to the amendment. I suggest you contact a local attorney who can review all the documents and facts involved.
Trusts, unlike wills, are generally private documents, which are typically administered outside the probate process. Changes to a trust are commonly called amendments.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.
