This article was co-authored by Clinton M. Sandvick, JD, PhD. Clinton M. Sandvick worked as a civil litigator in California for over 7 years. He received his JD from the University of Wisconsin-Madison in 1998 and his PhD in American History from the University of Oregon in 2013.
wikiHow marks an article as reader-approved once it receives enough positive feedback. In this case, 89% of readers who voted found the article helpful, earning it our reader-approved status.
This article has been viewed 142,896 times.
A living trust is an agreement between the person setting up the trust (the “settlor”) and the person appointed to manage his or her assets, the “trustee.” A living trust allows the settlor to add and remove assets and make changes or amendments to the trust at any time during his or her lifetime. Common reasons for making changes include the birth of a new beneficiary, purchase of new assets, sale of old assets, or the death of a beneficiary. If you have a living trust that needs to be modified, you can easily amend it.