Need to Change Your Trust Beneficiary?
A San Jose Estate Planning Attorney Can Help
Even when you are planning for the unexpected, life can catch you off guard
and change the way you want to distribute your estate. Divorces can happen,
new family members can be born, and relationships can change. Because
of these reasons, many of those who have set up a trust may find themselves
seeking to make new amendments to the beneficiaries. For those who have
set up a revocable trust, this is a fairly easy process. However, for
those who have set up irrevocable trusts, there may be limitations to
the changes they can make.
That is why it is important that you retain a proven San Jose estate planning
lawyer to help guide you through this process. At the Law Offices of Timothy
D. Henry, I understand the complications that arise in life and how they
may affect the plans for your estate. That is why I offer thorough and
estate planning and probate services to all the clients and families that come to me looking
to ensure the futures of their loved ones.
If you would like to explore your options to change your current trust,
call my firm today.
Grounds for Irrevocable Trust Amendments
In the State of California, there must be certain grounds to make a legal
beneficiary change to an irrevocable trust. These grounds depend on specific
beneficiary circumstances and existing provisions in the trust.
To legally change beneficiaries in an irrevocable trust, there must be:
- Spendthrift clauses
- Internal amendment provisions
- Consent from all beneficiaries
- Minor beneficiaries
Even the presence of these factors requires a deft legal hand and a potential
court order in probate court to successfully execute changes. To make
sure your trust remains updated and retains all the tax benefits you initially
established in the initial draft, be sure to contact the Law Offices of
Timothy D. Henry. I am ready to sit down with you and walk you through
every step of this process.
Call my firm for a
free consultation today.