1. A Restatement of Trust is different from a Trust Amendment. The Restatement of Trust form is designed to restate the entire trust document with all desired changes included. For further explanation, refer to our page on how to change trust beneficiary. If you wish to make a short Trust Amendment by only changing a few provisions rather than restating the entire trust document, use a Trust Amendment Form instead of the form shown above.
2. Use the same terminology in the Restatement of Trust form that is used in the original trust instrument. For example, if the original trust instrument refers to the makers of the trust as grantors instead of settlors as shown above, then it would be appropriate to use the term grantors in the Restatement of Trust.3. Insert a footer on the bottom of each page of the Restatement of Trust form indicating the page number and total number of pages of the Trust Restatement. For example, Page 1 of 12.4. All grantors or settlors and all currently acting trustees on the original Trust Agreement must properly execute the Trust Restatement Form in a manner that complies with state laws governing the trust. If there is disagreement among the settlors or grantors about making revisions to the trust, consult an attorney about how to proceed. If one of the settlors or grantors has died, the surviving settlor or grantor should consult an attorney. The trust agreement may provide that the trust becomes irrevocable upon the death of a settlor or grantor.5. When executing the Trust Restatement Form, all settlors or grantors and trustees should typically initial the bottom of each page.6. This Trust Restatement Form can only be used to amend a revocable trust. Consult your attorney about any issues with an irrevocable trust.7. Only a licensed attorney familiar with your trust instrument, other estate planning documents, and unique circumstances can advise you on how to amend or revise a trust. DO NOT ATTEMPT TO MAKE AN ESTATE PLANNING TRUST OR CHANGE A TRUST DOCUMENT WITHOUT CONSULTING A LAWYER IN YOUR STATE. The Restatement of Trust Form shown above may not be valid in your state. If you make a mistake in preparing or executing documents intended to change your will or living trust, it may cause your estate planning documents to be unenforceable. See codicils and amendments.8. Store the executed Trust Restatement with the original Trust Agreement, Pour-Over Will, other estate planning documents and any amendments thereto.9. If new property has been added to the trust as part of the Restatement or property has been removed from the trust as part of the Restatement, complete all steps required to properly change title to such property. This may include opening or closing trust accounts, changing title to trust investments, and executing trust transfer deeds. Signing a trust document is not sufficient to fund a trust or transfer assets to a trust.10. Making changes to an estate planning trust may result in the need to revise other documents in your estate plan, such as your will and financial power of attorney. If you amend your trust, you should also review beneficiary designations on life insurance policies, retirement accounts, investment accounts, etc.
Trust Restatement Form
The Trust Restatement Form is a template for an estate planning document used to change or revise a revocable
or another type of revocable trust. Before attempting to amend a revocable trust, be aware that all changes must be in a written document signed by all settlors or grantors. Do not attempt to amend or revise a trust document by making handwritten notes or crossing out language on the existing trust instrument. Read the instructions below before using the Trust Restatement Form.The following is an example of a Trust Restatement Form:FIRST RESTATEMENT OF THE REVOCABLE TRUST OF THOMAS JAMES SNIDER AND LAURA EVELYN SNIDERTHIS IS THE FIRST RESTATEMENT OF THAT CERTAIN TRUST AGREEMENT originally executed on insert day, month, and year the original Trust Agreement was executed, between THOMAS JAMES SNIDER and LAURA EVELYN SNIDER, a married couple currently domiciled in Orange County, Florida, referred to herein as the "Settlors", and THOMAS JAMES SNIDER AND LAURA EVELYN SNIDER, referred to herein as the "Trustees".WHEREAS, we created a revocable living trust, and the Trustees accepted the trust we created;WHEREAS, we transferred property to the Trustees, and intend to transfer additional property to the Trustees, to be held in trust, and the Trustees agreed to accept such property and to hold, manage, and distribute such property under the terms of this Agreement as amended and restated from time to time;WHEREAS, we retained the power to amend and restate the Trust at any time, which power we are exercising to be effective upon the execution of this Agreement.INSERT HERE THE FULL TEXT OF THE REVISED TRUST AGREEMENT WHICH SHOULD INCLUDE THE ENTIRE TRUST AGREEMENT WITH REVISED LANGUAGE AS YOU WANT THE AMENDED TRUST DOCUMENT TO READ. For example,"ARTICLE I. Name of Trust ..."IN WITNESS WHEREOF, we have signed this Agreement, effective on the day and year first written above and executed by us on the date shown below.Signature Line for Thomas James Snider, Settlor and TrusteeDated: insert date the Trust Restatement Form will be signedSignature Line for Laura Evelyn Snider, Settlor and TrusteeDated: insert date the Trust Restatement Form will be signedType the full name of the settlor or grantor and trustee beneath the signature line.Insert here Certificate of Acknowledgement of Notary Public language for the county and state where the Trust Restatement Form will be signed. Include sufficient space for the official notary seal or stamp and notary signature.Attach all exhibits or appendices to the Trust Agreement as amended or revised.END OF FORMCopyright 2020 Pennyborn.com. ALL RIGHTS RESERVED.
Questions to Answer Before Amending an Estate Planning Trust
Before executing any legal document to amend a trust, you should have answers to the following questions:1. What does the original trust instrument provide about revising or amending the Trust Agreement? Review the original trust document to confirm it may be amended, revised or revoked.2. What
type of trust are you amending? Only certain types of trusts may be amended. If the original trust is irrevocable, it may not be possible to amend the trust.3. Does the Trust Restatement comply with applicable state law? State laws governing trusts vary widely from state to state. If you are amending the trust to change the situs of the trust, you need to consult a lawyer licensed in the new state before making any changes. To find trust laws by state, go to Trust Law. Some trust provisions that are lawful in one state may not be permitted in another state. Trustee duties and the rights of heirs, beneficiaries, and creditors are also different from state to state. This is one of the reasons a trust should only be revised by a licensed attorney.4. How should the trust changes be drafted? Should the trust be amended using a Trust Restatement or should a Trust Amendment be used? For example, if you are only making a few simple changes, such as replacing the successor trustee named in the original trust or removing an heir that you no longer want to inherit, it is generally appropriate to use a simple Trust Amendment form. However, if the changes to the trust are extensive, such as removing entire Articles from the trust, deleting several significant provisions or adding new Articles to the trust, it may be better to use a Trust Restatement Form like the one shown above to restate the trust in its entirety to avoid confusion. In some cases, the desired changes to a trust are so extensive it is necessary to terminate or revoke the original trust and create an entirely new trust. See
how to revoke a living trust. An attorney can review your estate planning documents along with the requested changes and advise whether the trust needs to be revoked or can simply be amended.Published June 9, 2017. Updated February 3, 2020.
INFORMATION ON THIS SITE, INCLUDING ARTICLES, ESTATE PLANNING FORMS, AND THE ESTATE PLANNING BLOG, DOES NOT CONSTITUTE LEGAL, FINANCIAL OR TAX ADVICE. Pennyborn.com is not a law firm and is not a substitute for a lawyer. Your use of this site does not create an attorney-client relationship. Information on this site is for educational purposes only and may not be accurate, complete or up to date.
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