How to Amend Executors in Trusts
A trust is a financial planning document stating how a person’s assets will be managed and distributed during his life and after his death. The executor of an estate is the person left with the responsibility of closing out all financial affairs of the decedent, as well as notifying and distributing remaining assets to beneficiaries. Most trusts have a trustee named for all trust assets but may also name an executor for any asset that might be discovered outside of the trust after death. A revocable trust is easier to amend than an irrevocable trust.
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Instructions
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Amend Revocable Trust
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Get the original trust document.
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Write an amendment that states the change in executor or successor trustee. In the amendment, include the name of the new executor and state that this person is replacing the previous executor. Note the page and section of the trust for easy reference in the amendment.
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Sign and date the amendment in the presence of a notary public.
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Attach the amendment to the original trust. Don't remove any pages or redact any part of the original trust document. This can lead to confusion. As long as the amendment clearly defines the new executor stating this person supersedes any pre-named persons with the date, the amendment will be followed.
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Provide a copy of the trust with the new amendment to all financial institutions such as banks and brokerage firms. This prevents any issues or confusion when someone comes to make a claim on the asset.
Irrevocable Trust Amendment
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Determine the grounds for removal. For example, a successor trustee or executor who is removing assets while a surviving spouse still has a right to the property is one reason. Another is mismanaging assets against the trust determinations.
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Obtain beneficiary approval for the changes. When all beneficiaries are in agreement, this makes the amendment easier to approve for the judge. However, if the executor is also a beneficiary, getting approval might not be feasible and the judge will have to review all pertinent information and grounds for amendment.
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Go to the county family courthouse and ask the court clerk which petition forms are required to remove an executor or successor trustee.
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File the petition with any documentation you have supporting your claims as well as a copy of the trust. Obtain a hearing date.
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Notify the existing executor of the hearing date. Attend the hearing, bringing any witnesses and further documentation you have.
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Tips & Warnings
Consult an attorney if you are unsure of your rights regarding executors, trusts and family estate law.
