Changing Testamentary Trust Terms by SextonLawAR

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Changing the terms of a testamentary trust may not be as easy as you think. You see, a testamentary trust is a trust that is created in your last will and testament (thus, the origin of its name), and does not take effect until you die

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									                               Changing Testamentary Trust Terms

Changing the terms of a testamentary trust may not be as easy as you think. You see, a
testamentary trust is a trust that is created in your last will and testament (thus, the origin of its
name), and does not take effect until you die. As is surely obvious, changing the terms of a trust
after one dies is not where the difficulty lies, so where does the difficulty come from?

The law is extremely rigid about requiring the formalities to be observed when creating a will.
This is so that the participants will have the gravity of the situation – and of their actions –
impressed upon them, as well as to protect the testator, the person creating the will, from
undue influence. If the will should be contested, strict observance of the formalities will
increase the reliability of proof presented to the court.

What all of that means is that, in order to change any of the terms of the testamentary trust,
the testator will need to draft a new will to take the place of the old one, then make an
effective revocation of the prior will; or, draft a codicil, a supplement to a will that varies or
revokes provisions in a will, which is then attested to in accord with the formalities required of
a will.

Besides the problems related to changing its terms, the testamentary trust has a number of
other disadvantages that you may find undesirable. To learn about other options, contact your
estate planning attorney today.


Experienced estate planning attorneys Fayetteville AR of the Deborah Sexton Law Office PA
offers estate planning and business planning resources to residents of Fayetteville AR. To learn
more about these free resources, please visit http://www.arkansas-estateplanning.com today.

								
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