Many people assume that once a living trust is signed, it cannot be changed.
Fortunately, that is usually not the case.
Most California living trusts are revocable, which means they are designed to change as your life changes.
You may decide to update your successor trustee, add a new beneficiary, reflect changes in your family, or adjust your plan after purchasing or selling significant assets. These are all common reasons clients revisit their estate plans.
In many cases, updates can be made through a trust amendment rather than creating an entirely new trust.
At our firm, we regularly help clients review existing estate plans and determine whether revisions are appropriate. Sometimes only a small amendment is needed. Other times, creating an updated trust better reflects a client’s current wishes.
Estate planning should grow with you. Your trust should continue to reflect your family, your assets, and your goals throughout different stages of life.
FAQs
Can I update my living trust after it is signed?
Yes. Most revocable living trusts can be amended during your lifetime.
When should I review my trust?
It is often a good idea to review your plan after major life events or every few years.
Do I need a new trust every time something changes?
Not necessarily. Many updates can be made through a trust amendment.
Can an attorney review a trust that was prepared years ago?
Yes. We regularly review existing estate plans and recommend updates when appropriate.