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Can a trust have an amendment?

You can also amend a trust if you decide to add or remove property from the trust. Common situations that lead to a trust amendment are divorce or marriage, birth of a child or grandchild, a move to a state with different laws, a change in tax laws, a change in your financial situation, or the death of a beneficiary.

Do I need a trust or a will in Idaho?

You do need a trust if you have children who are under the age of 18. You may also need a trust if you have children who are disabled or handicapped in some way. Finally, a trust may be a useful estate planning tool for you if you have money, or property that you want to last several generations after you are gone.

Why is a trust better than a will?

But its very different from a Will in that your Trust not only plans for after you die its a document intended to have an impact while youre still living. A Trust can set provisions for things like what you want to have happen if you become mentally or physically unable to make your own decisions.

Can a trust have an amendment?

You can also amend a trust if you decide to add or remove property from the trust. Common situations that lead to a trust amendment are divorce or marriage, birth of a child or grandchild, a move to a state with different laws, a change in tax laws, a change in your financial situation, or the death of a beneficiary.

Do you need a living trust in Idaho?

Who Should Get a Living Trust in Idaho? If your primary reason for getting a living trust is to avoid probate, you will not need one if your estate is worth $100,000 or less. At that level, there is a simplified process for small estates that doesnt involve probate or even informal probate.

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