What is a Trust Restatement?
A trust restatement allows you to update the terms of your existing revocable trust without changing the trust’s name. This is beneficial if you've already transferred assets—such as real estate or bank accounts—into your trust and want to avoid retitling them.
Key benefits of a restatement:
Allows you to keep the original trust name, so assets don’t need to be retitled, while changing other terms and inputs when adopting the Wealth form.
Replaces the entire original trust document with a new, updated version
Consolidates all changes into a single, current document
What is a Trust Amendment?
A trust amendment makes changes to specific clauses within a trust document, whereas a trust restatement replaces the entire original trust document with a new, updated version. This restatement consolidates all changes and results in a single, current document. In essence, a restatement is a comprehensive amendment that updates the entire trust rather than just one provision.
If you have an existing Revocable Trust-based estate plan and need to make updates, Wealth.com allows you to restate your trust through our platform. While we cannot provide legal advice, we aim to provide clear guidance on how our platform supports this process.