Can I Change the Terms of My Trust?

I often tell clients that whether you can change a trust depends on the type of trust you have. If you created a revocable living trust, you can amend it, change trustees or beneficiaries, or revoke it entirely—as long as you’re alive and mentally competent. But if the trust is irrevocable, making changes is much more difficult and usually requires court approval or agreement from all beneficiaries. These trusts are commonly used for things like asset protection, tax planning, or Medicaid planning, and their strict rules are actually part of what makes them effective. That said, there are limited options like decanting that might allow changes under certain conditions. If you’re unsure what kind of trust you have or you’re thinking about making changes, it’s crucial to speak with an attorney so you don’t risk undermining the trust’s protections. Please give us a call if you have any questions.