Who needs Revocable Living Trust Amendment Form?
A Revocable Living Trust is a legal written statement by means of which a trustor (grantor), an individual creating the trust, who names a trustee and governs the management of trust assets during their lifetime and upon their death. It differs from a will in such a way that it is controlled by contract law rather than by probate code under state law. The agreement is called "revocable" because, as long as the trustor is mentally competent, they are eligible to change or revoke the trust at any time at their own discretion for any reason. However, a Living Trust cannot be revoked after the trustor’s death.
Logically, the Amendment Form to Revocable Living Trust is necessary to be filed when the trustor has made a decision to make any type of amendments to the initial agreement.
When is the Revocable Living Trust Amendment Form due?
The form does not have or require a due date for being submitted, as it can be completed when the needs arises or may not be filed at all.
Is Revocable Living Trust Amendment Form accompanied by any other forms?
No, there is no necessity to support the amendment form by any other documents or statements except for the initial Revocable Living Trust agreement.
How to fill out the Revocable Living Trust Amendment Form?
To be properly filled out the Amendment Form must refer to the Trust Agreement, clearly identify the Grantor(s) and the Trustee(s), date of the Trust agreement conclusion. And only having stated the most important details of the initial Revocable Living Trust Agreement , the grantor should establish all the appropriate amendment.
What should be done to the completed form?
The filled out Amendment form does not have to authorized by the notary public (unlike the Trust Agreement). It is supposed to be retained by the parties to the agreement in a safe place.