A living trust is a document that details an individual’s wishes and is brought into fruition after death. Yes, wills are also used for this purpose, but there are differences between a last will and testament and a living trust. Unlike a will, a living trust does not have to go through probate, which is a lengthy legal process that begins the distribution of the deceased’s property. Living trusts are not set in stone; you do have the ability to change it. However, you should make sure it is a revocable living trust. According to wills-online.com, with a revocable living trust you can change it or revoke it. When you create your living trust, make sure it indicates that it is revocable. With your living trust, you can add or remove any property and ensure that your wishes are met.
Step 1
Begin an amendment for your living trust. Indicate the property that you want to remove on a sheet of paper. An amendment changes specific parts of the living trust, based on your preferences. Nolo.com states that you should make your changes very clear so that there aren’t any problems after your death. You can create an amendment without the assistance of an attorney.
Step 2
Sign the amendment. If your spouse signed the original living trust, he will have to sign the amendment as well. When you sign your amendment, you verify that you are the one making the changes--removing specific property. However, the amendment is not binding until notarization takes place.
Step 3
Visit a notary public, and have your amendment notarized. The notary public will stamp the amendment, making it a binding document. This ensures that your wishes are properly executed, removing the property from the original living trust.
Step 4
Attach the notarized amendment to the original living trust.
Step 5
Restate the living trust. A restatement revises the original living trust, replacing the original with a new living trust. With a restatement you can also remove the specified property from the original living trust. According to nolo.com, a restatement can be less confusing than attaching an amendment to your original living trust. You will need to sign the restatement and have it notarized.
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Writer Bio
Based in New Jersey, Ashley Leonard has been writing professionally since 2007. Her articles have appeared on rsportscars.com and various other websites. Leonard holds a Bachelor of Arts in communications from Marymount Manhattan College.