Can I change the terms of a trust?

Yes, you can change the terms of a trust in New Mexico under certain circumstances. Generally, a trust can be modified or even revoked by the settlor (the person who made the trust). This is possible if the settlor is not incapacitated and still has legal capacity. If the trust was created by a will, then the settlor is the person who wrote the will. If the trust was created by a third party, then the third party will have to agree to the changes. In addition, the beneficiaries of the trust must also agree to the changes, or else a court order may be required. If the trust has already been funded, then the trustee will need to be notified of the changes as well. It can be difficult to change the terms of an established trust. In some cases, the trust document may restrict the ability of the settlor to modify or revoke the trust. As a result, a court order may be required to make changes to the trust. If you are unsure about the rules and restrictions on making changes to a trust, it is recommended that you consult with an attorney.

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