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How to Amend a Living TrustLocate the original trust. The grantor must locate the original trust documents and identify the specific provisions that require amendment.Prepare an amendment form.Get the amendment form notarized.Attach amendment form to original trust.

Revocable Living Trust Amendments & Restatements: Cost starts at $350 for a simple amendment or $1,000 for a full restatement.

Revocable living trusts and wills both allow you to name beneficiaries for your property.For example, most people use living trusts to avoid probate. But living trusts are more complicated to make, and you can't use a living trust to name an executor or guardians for your children. You need a will to do those things.

Living Trust Like a will, a trust will require you to transfer property after death to loved ones.Unlike a will, a living trust passes property outside of probate court. There are no court or attorney fees after the trust is established. Your property can be passed immediately and directly to your named beneficiaries.

Another downside of living trusts is that transferring assets can be both time-consuming and complicated. If you hold a variety of assets, you'll need to contact your different banks and agents to have everything you own moved over -- a process that could involve a fair amount of paperwork.

While the will and trust ideally work together, because they are separate documents, they sometimes conflict with one another, either intentionally or accidentally.A living trust generally supersedes a will, but a will generally supersedes a testamentary trust.

Assets that should not be used to fund your living trust include:Qualified retirement accounts 401ks, IRAs, 403(b)s, qualified annuities.Health saving accounts (HSAs)Medical saving accounts (MSAs)Uniform Transfers to Minors (UTMAs)Uniform Gifts to Minors (UGMAs)Life insurance.Motor vehicles.