What is a trust amendment?

A trust amendment is a legal document that changes the terms of a trust agreement after it has been established. In Colorado, a trust amendment must be in writing and signed by all of the parties involved in the trust agreement. It is important to note that a trust amendment cannot contain anything that violates the terms of the trust document. A trust amendment is necessary if there are changes in the circumstances of the beneficiaries, trustees, or trust maker. For example, if the terms of a trust agreement are for the trust maker to provide financial support for their adult child, and that adult child passes away, a trust amendment may be necessary to allow the trust maker to direct support to the adult child’s children. A trust amendment also may be necessary if the trust maker has changed their mind on who should receive the trust assets or how those assets should be distributed after the trust maker has passed away. Finally, a trust amendment may be necessary if new laws have been passed that conflict with the terms of the trust agreement. In such cases, the trustmaker may need to adjust the trusts terms in order to comply with the new law and the trust amendment would provide a clear instruction to the trustee to do so. In Colorado, it is advisable to consult with an experienced trusts and estates attorney who can help determine if a trust amendment is needed and draft the document accordingly.

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