Moving trusts?
Let's say you have three items approved on a cookie cutter trust.
Could you have a lawyer draw you up a proper trust nd move the items over? What would that take? Three new stamps interstate?
Can you edit or amend a trust at your leisure? Add to itS verbiage?
Amendments can certainly be made to the trust. That is what my lawyer suggested I do if I move and if Ny changes need to be made. I've changed the structure and added some trustees with amendments as well. If you create a new trust then the items will have to be transferred with another tax due.
Are you the grantor/settlor? You can change the trust however you see fit. The only governing body is the board of trustees. They can vote you out if they decide you've mismanaged things. Then again, you can add/remove trustees too.
Otherwise, you can change anything and everything in the trust at will. That's kinda your job as the grantor/settlor. The only thing you can't change is the name of the trust. Not easily anyway.
Moving everything to another trust would be expensive and time consuming.
Ask your new lawyer about simply rewriting your trust. It shouldn't be difficult.
Az
So the "newly rewritten" trust doesn't need to be reap proved by legal at the BATF?
