New vs. amended revocable trust

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New vs. amended revocable trust

My wife and I paid an attorney in 1999 to create a revocable trust. It cost over $1000 to have it amended when we purchased a new home in 2004. We recently purchased another property, but we don’t want to spend another $1000 + to have it amended again. We are considering using Nolo Quicken WillMaker Plus 2009 to draw up a new revocable trust instead. Assuming that we notarize the new trust, notify the county recorder and banks of the new trust, and provide a copy to our successor trustees, is there anything we need to do to assure that the old trust is superseded?

Asked on May 29, 2009 under Estate Planning, California

Answers:

L.M., Member, California Bar / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

I would destroy the original and all copies of the original trust to the extent you are able.  You will also need to state in the new trust that the original trust prepared on whatever date is revoked and this new trust is to take its place.  Leave no question but that this is the trust you intend to be enforced, not the old one.  By the way, when most people re-do a trust, if it is basically the same as the old one, with perhaps one or two changes or additions or deletions, it is called a Restatement of the original trust.


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