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Change of Beneficiary

Need to Change Your Trust Beneficiary?

A SAN JOSE ESTATE PLANNING ATTORNEY CAN HELP

Even when you are planning for the unexpected, life can catch you off guard and change the way you want to distribute your estate. Divorces can happen, new family members can be born, and relationships can change. Because of these reasons, many of those who have set up a trust may find themselves seeking to make new amendments to the beneficiaries. For those who have set up a revocable trust, this is a fairly easy process. However, for those who have set up irrevocable trusts, there may be limitations to the changes they can make.

That is why it is important that you retain a proven San Jose estate planning lawyer to help guide you through this process. At Henshaw & Henry, PC, we understand the complications that arise in life and how they may affect the plans for your estate. That is why we offer thorough and personalized estate planning and probate services to all the clients and families that come to me looking to ensure the futures of their loved ones.

If you would like to explore your options to change your current trust, call our law firm today.

 

GROUNDS FOR IRREVOCABLE TRUST AMENDMENTS

In the State of California, there must be certain grounds to make a legal beneficiary change to an irrevocable trust. These grounds depend on specific beneficiary circumstances and existing provisions in the trust.

To legally change beneficiaries in an irrevocable trust, there must be:

  • Spendthrift clauses
  • Internal amendment provisions
  • Consent from all beneficiaries
  • Minor beneficiaries

Even the presence of these factors requires a deft legal hand and a potential court order in probate court to successfully execute changes. To make sure your trust remains updated and retains all the tax benefits you initially established in the initial draft, be sure to contact Henshaw & Henry, PC. We are ready to sit down with you and walk you through every step of this process.

Call us today for a free consultation.

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