Amending Your Trust
What is a trust amendment?
A trust amendment form is one of the few ways you can update your trust document. This form allows you to make specific changes that won’t affect your trust as a whole, such as adding a beneficiary or editing a certain provision. Depending on your trust type and the changes you want to make, a trust amendment form can be a quick, simple way to make changes to your trust.
What is a trust?
In estate planning, a trust is a legal arrangement you can use to pass on your property and assets after you die. If you decide to create a trust, you’ll make many decisions. This includes nominating a trustee to manage the trust and choosing beneficiaries to receive your assets. Your beneficiaries can be individuals — like family members and friends — and organizations, like a favorite charity. FreeWill offers a Revocable Living Trust.
Revocable trusts are also known as revocable living trusts or RLTs. The term “revocable” means you can change or amend the trust anytime during your lifetime. These changes can include adding or removing beneficiaries, transferring assets in or out, and changing distribution amounts to your beneficiaries. You can also terminate an RLT if it no longer suits your needs or meets your estate planning goals.
Amending your FreeWill Revocable Living Trust
FreeWill does not currently offer users the ability to amend an RLT that was created through our software. However, if your trust has not been signed and has not had any assets transferred to it, then you are able to log in to your FreeWill account and create a new one.
However, if you have an RLT through FreeWill that has been signed and your assets have been transferred to it, you will need to either transfer your assets out of that trust and to a new one, or see an attorney for a trust amendment form.
Deleting your FreeWill RLT
If you have decided that you would like to delete your Revocable Living Trust made through FreeWill and create a new one, please contact FreeWill support at help@freewill.com where a support agent can delete this document on your behalf.