Can I Change My Living Trust Beneficiaries?

There are those who never consider trust creation because they harbor beliefs that are not entirely accurate. It is true that there are trusts that are used to create separation, so you cannot take back assets that you convey into these trusts, and for the most part you cannot change the terms  (though there are exceptions). These are irrevocable trusts. However, there are also revocable trusts like the revocable living trust. These trusts are not going to satisfy certain objectives that irrevocable trusts would satisfy, but they do provide numerous different benefits. Before we look at the benefits, we will look at the flexibility. Versatile Asset Transfer Tool A revocable living trust is a versatile asset transfer tool. The anatomy of a trust involves the grantor, who is the person who creates and funds the trust. There is a trust administrator called the trustee, and there are beneficiaries who can receive monetary distributions from the trust. Throughout the grantor s life, he or


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