You’ve got to review your trust from time to time and update it as your financial life changes, your family’s situation evolves and as laws change. A living trust is a great document that protects you in many ways. Namely, if you are thinking about creating a living trust to protect your assets against a creditor lawsuit – it’s time to think again.If you fail to do so, all your work will have been for nothing. The trust won’t offer very much of that kind of protection.In California, you can change your revocable living trust by writing an amendment that complies with state law.California's trust amendment laws are found in Sections 15400-15414 of the probate code. Indicate the paper is a trust amendment at the top of the page.This is not a document you must file with a court, so it doesn’t require exact language and wording.However, there are certain things you’ll want to include, so having a format to follow is helpful. Print the name of your trust at the top and state if this is the first change you’ve made to it.List the articles or numbered paragraphs in your original trust document that you want to change.
Common reasons for making changes include the birth of a new beneficiary, purchase of new assets, sale of old assets, or the death of a beneficiary.For questions regarding your specific situation, please consult a qualified attorney.The ease with which you can make changes to your living trust depends on what kind of trust you created.And as the kids come of age you get to know them better. Sometimes putting more money in the hands of our loved ones only allows them to continue self-destructive behaviors.As a result, you might want to change the distributions as called for in the trust. She (and her children) may no longer need to inherit money from your trust. When you are clear on that, you might do yourself and your children a huge favor by restricting their access to your trust assets.