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DEAR SIR,   I COMPLETED A LIVING TRUST IN THE YEAR USING WILLMAKER PLUS 2005. I AM PLANNING TO UPGRADE IT TO THE 2009 WILLMAKER. SEVERAL CHANGES MADE TO THE NEW TRUST. 1. CHANGING THE TWO SUCCESSOR TRUSTEE TO HANDLE OUR ESTATE. BOTH MUST SHARE 50% EACH. QUESTION: IS IT BETTER TO NAME ONLY ONE AND STATE THAT HE/SHE MUST DIVIDE THE ESTATE EQUALLY BETWEEN THEM. .2. THERE IS THE POSSIBILITY THE NEW TRUST WILL NOT END UP WITH THE SAME NUMBER OF PAGES. QUESTION: HOW DOES THIS EFFECT THE NOTARY STAMP? MUST I GET RENOTARIZED AND WILL THIS EFFECT THE ORIGINAL DATE ON THE 2005 TRUST? SEVERAL OF MY DOCUMENTS INCLUDING THE DEED OF MY HOME HAVE THE 2005 DATE. QUESTION: MUST I GO TO ALL THE BANKS PLUS THE PROPERTY TAX BOARD TO INFORM THEM OF THIS CHANGE? SINCERELY AND THANK YOU FOR YOUR TIME, AARON. OCEANSIDE, CA

Submitted: 278 days and 5 hours ago.
Category: Estate Law
Value: $30
Status: AWAITING CUSTOMER ACTION
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California

Posted by FLAandNYLawyer 278 days and 5 hours ago.

Answer

Hello,

It appears that you will want to add an amendment to the trust changing the terms. The signature and notary of the existing trust cannot be attached to a rewritten trust. It could void the trust. Instead you must do an amendment restating the portions that you want changed.

You can consider naming one trustee and one successor trustee. This way one trustee can act alone and if that trustee is unable or unwilling, the successor trustee can step in.

278 days and 5 hours ago.

Reply

THANK YOU FOR YOUR QUICK REPLY. HOWEVER, I DON'T UNDERSTAND YOUR ANSWER CONCERNING THE SUCCESSOR TRUSTEES. MY SPOUSE IS THE TRUSTEE. I WANT TO NAME TWO ADDITIONAL SUCCESSOR TRUSTEES. THE OTHER QUESTION IS DO I HAVE TO REDO MY HOME DEED WITH THE NEW REVISED DATE. IN OTHER WORDS, MUST I CHANGE THE DATE ON MY HOME DEED. THANK YOU,,

Accepted Answer

Hello,

I did not know that your spouse was your trustee. You can name the other two as successor trustees. Typically it is easier to name one successor and then the other trustee as successor to that successor trustee.

You do not change your home deed with a new revised date. The date of the trust is unchanged. You are adding an amendment to the trust and only the amendment will have the current date.

I hope that this helps.

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Expert: FLAandNYLawyer
Pos. Feedback: 98.7 %
Accepts: 
Answered: 2/18/2009

Attorney

20 years of private practice

278 days and 5 hours ago.

Reply

THANK YOU FOR YOUR QUICK REPLY. YOU HAVE ANSWERED MY QUESTIONS .

 

HAVE A GREAT DAY. AARON

Posted by FLAandNYLawyer 278 days and 5 hours ago.

Info Request

You have a great day as well. Thank you for using my services.

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