What is a trust modification agreement?
A trust modification agreement is an agreement between the grantor and the trustee of a trust that permits modifications to the trust agreement. This agreement is used to make changes to the trust, such as changing the distribution of assets or the beneficiaries, or even allowing for new assets to be added to the trust. In the state of Florida, the trust modification agreement must be approved by the circuit court. The circuit court will review the agreement and verify that it meets the requirements of Florida’s state laws for trust modifications. The agreement will typically be signed by the grantor, the trustee, and any other interested parties. After the agreement is approved by the court, it will go into effect and the trust will be modified according to the terms of the agreement. This type of agreement is used to make sure that the trustee is carrying out the wishes of the grantor, and to ensure that the beneficiaries receive the assets they are entitled to.
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