[WSBAPT] Question re: restating a trust

[Mark Anderson]

To make it evident that terms had changed, I would characterize the new version as an "Amended and Restated" trust agreement.

Mark B. Anderson
ANDERSON LAW FIRM PLLC
821 Dock St  Ste 209  PMB 4-12
Tacoma, Washington 98402
+1 253-327-1750
+1 253-327-1751 (fax)
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www.mbaesq.com<http://www.mbaesq.com/>
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From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of Jon Fritzler
Sent: 09/20/2023 3:26 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: [WSBAPT] Question re: restating a trust

Clients came to me with a revocable living trust that was created after they were married and which holds virtually all of their property.  Nothing unusual about that, except that it is not a joint trust.  Husband is the sole settlor of the trust.  (Apparently, wife had co-signed on a child's loan and the thinking was that having only H as settlor would protect their assets.)  The loan situation is now resolved and they want to know if the trust can be converted to a joint trust so that W will have the ability to amend it if husband dies first.  Of course, H could revoke the current trust and they could transfer all of the assets to a new trust but they would rather avoid having to retitle all of their assets.  Is there any reason the current trust can't be restated as a joint trust?

Sincerely,
Jon M. Fritzler
Attorney at Law
717 E. 22nd St.
Vancouver, WA 98666
Tel. 360.818.4431
E-mail fritzlerlaw at outlook.com<mailto:fritzlerlaw at outlook.com>

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