How Easy Is It to Change Revocable Trust by Yourself

Updated on June 21, 2012
M.M. asks from Chicago, IL
5 answers

Hello,
My grandma needs to change her revocable trust, needs to change the beneficiary for her real estate to go to someone else then she originally put on the trust. I was looking online and from what I read it seems to be as easy as making it yourself and getting it notarized. Is it really that easy? She went to consult a lawyer and he told her it's complicated and will cost around $1000-$1500. Another lawyer told her $300-400. Are these lawyers just trying to scam her out of her money? It seems to me like they are trying to take advantage of the little old grandma....., does anyone know if it can really be done on your own and just getting it notarized?

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More Answers

J.W.

answers from St. Louis on

It depends on how complicated the changes are. I basically made the same changes. It cost me 180, the half an hour it took for the attorney to draw up the papers. 15 for someone in the office to file the new deed and what ever the filing fee was.

The 300 to 400 sounds reasonable if it is complicated and it is not something you want done wrong. The idea behind these types of documents is they speak for the person when they cannot speak for themselves. In other words their only value is their ability to stand up in court. Not something you can fix after the fact.

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S.M.

answers from Washington DC on

I don't know if it is doable, but I would consider the family dynamic. My relatives are all nuts and when my grandmother's will was read, lawsuits were threatened, etc. A lawyer can speak up for your grandmother's intentions and of "being of sound mind" and not being coerced. It give sthe will credibility. A notary can't do that. Also, if you make a mistake, there is no going back. I always think it is better to use a lawyer for such monumental decisions.

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N.W.

answers from Eugene on

I think 300-400 is reasonable. That would be about an hour + of the attorney's time and could save you months (or years) of headaches. Well worth it.

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A.S.

answers from Chicago on

Since she already has a trust, you should get something drawn up by an attorney and not a generic online form that's notarized. A change to her trust will withstand any legal challenge better than a notarized form you drew up yourself. It sounds like it should be relatively uncomplicated and maybe an amendment to her trust to change that single item. We had to have our trust rewritten because it originally named our only son (at the time) as the beneficiary of the trust. It had to be re-written to specify our son and any future children. Rewriting the trust was a much bigger expense than an amendment, so be sure to get an explanation of what might be required.

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S.R.

answers from Chicago on

My parents had a trust. Their trust was irrevocable, so the circumstances may be different than your grandmother's. Though I am not a lawyer, I think when you make a change to the trust (called an amendment?) you need a lawyer. My suggestion is to consult a lawyer that specializes in trusts and/or geriatric (elder) law. If you email me privately I can provide you the contact info for the law practice that drafted my parents' trust.

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