The Listen to Lawrence Letter: Can you change the name of a trust?

CLIENT QUESTION:

I would appreciate learning if and how it is possible to change the name of an established trust.

MY RESPONSE:

If the trust is a revocable trust, then this would be accomplished with the grantor signing a trust amendment. If this is an irrevocable trust, then the trust name can be changed as long as we get the consent of all beneficiaries of the trust. Once the name is changed, then all assets in the trust should probably be retitled in the new name to avoid confusion.

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As always, please send your questions in! If you are thinking about it, others are probably too, so my answers will no doubt help you and many others.

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