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Properly changing a trust document

The creation of a trust can give Nevada residents more control over what happens to their property upon then death or if they become mentally incapacitated. However, any changes to the trust must be done in a formal manner similar to how the trust itself is created. If an amendment is simply written in the margin, it could be invalidated by a court.

In such a scenario, the original wording of the document may be followed or some other arrangements made that may not mesh with the settlor's wishes. By creating a separate document, any amendments are likely to be considered the true intentions of the trust's settlor. It may be a good idea for an individual to keep multiple copies of a trust to ensure that the original version is always available for reference.

Should the settlor of a trust need to significantly alter it, it may be a good idea to simply restate the trust. Doing so incorporates all of the changes into a single document that may be easier for others to follow. It is important to note that all trust documents should be witnessed, signed and notarized to enhance their legitimacy.

One advantage of a trust is that is can help to avoid the public probate process, which can be important for those who want to keep their affairs free from scrutiny. The process itself can be expensive, and it can also be lengthy, which means that beneficiaries may have to wait a significant amount of time before they receive their inheritance. Estate planning attorneys can also point out to their clients that, unlike a will, a trust can place conditions upon the receipt of a distribution, such as the achievement of certain milestones by a beneficiary.

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