If you created a revocable trust, then you can amend or terminate that trust. Revocable trusts can be taken back or changed. However, you must change the trust in the proper manner and follow the legal steps. Failure to follow the proper steps might lead to problems down the road (and maybe even litigation).
PTM Trust and Estate Law
200 NW 75th Drive
Suite B
Gainesville, FL 32607
Info@PTMLegal.com
Florida allows for the modification or termination of an irrevocable trust under certain circumstances. In some cases, the parties to a trust can modify without any court action at all. Other times, it may be necessary to petition the court to modify or terminate a trust.
Yes, a trust can be terminated under certain circumstances. Sometimes all that is needed is the consent of all parties involved. In other situations, a court order may be needed. Florida provides for a number of possible avenues for trust termination, including settlement and judicial intervention.
Whether a trustee can refuse to modify a trust is highly dependent on the terms of the trust and whether the settlor is still alive. Generally, settlor requests are taken more seriously than beneficiary requests. However, there are circumstances in which a settlor may be powerless or in which a beneficiary may have a strong case for trust modification.
Yes, a beneficiary could challenge a trust amendment if the amendment is legally insufficient or if the beneficiary has reason to believe the amendment was the result of undue influence, fraud, or the settlor’s incapacity.
A trust restatement is a complete rewriting of the trust document, replacing the original while keeping the same trust name and date. It is often used when multiple significant changes are needed rather than making numerous amendments.
We are happy to meet with any of our clients in our office located in Gainesville, FL. The office is found off of Tower Road. Please make an appointment for your visit.
We are happy to meet with you either by phone or over zoom if you are not in the Gainesville area. Trust amendments, modifications, and terminations do not require in person conversations with a law firm; we represent clients from all across the state of Florida.
PTM Trust and Estate Law is happy to answer your questions about trust amendment, modification, or termination. Please call 352-554-5576 or contact us online to schedule a free consultation. If you do not live near Gainesville, then we will be happy to schedule a free phone meeting instead. We help clients all throughout the state of Florida.
