When some people think of trusts, they may believe they are only a vehicle for the super-rich to pass on their wealth to generations. However, a living trust is a helpful estate planning tool for any person putting together an estate plan, regardless of the overall value of their assets. Living trusts are often established to protect an individual or couple’s assets during their lifetime, by appointing a trusted friend or family to administer their assets should they become incapacitated, and to pass on their assets to their children or heirs after death in a manner that is less expensive and time consuming than the probate process.
However, some people may have questions about what could happen to their trust after their death, for instance, common questions include:
- can a successor trustee amend a trust?
- can a revocable trust be broken?
- what’s the process for a living trust amendment?
- can a living trust be revoked?
- how does an heir go about dissolving a revocable trust?
- who can change my trust after I die?
This article will address some of those common questions and concerns about what might happen to your trust after your death.