Legal Question in Wills and Trusts in Massachusetts
Can an existing, filed Trust be amended to include a Schedule of Beneficiaries? How is this accomplished in the State of Massuchetts?
Asked on 1/16/11, 12:47 pm
1 Answer from Attorneys
Generally a Nominee Trust is recorded without the beneficiaries. The Schedule of Beneficiaries can be changed by the Settlor who created the Trust or by the Beneficiaries by an assigment of beneficial interest and acknowledgement by the acting Trustee.
If you are talking about a Revocable Trust for an Estate, then it is done by amendment to the Trust by the Settlor. If the Settlor is incapacitated, then it becomes more difficult depending upon the terms of the Trust and if there is anyone else who has the authority to amend the Revocable Trust.
Please feel free to contact me if you have more questions.
Answered on 1/21/11, 12:57 pm