LA Law 101: What if I Want to Amend My Trust Post February 2021 & Proposition 19?

Normally we do amendments to an existing trust to add or delete whatever paragraphs need to be modified due to changes in people's lives and circumstances.

However Proposition 19's new real estate rules affecting LLCs, corporations, partnerships, and parents with children seeking to pass on their family residence to the kids, are so major that we recommend doing a Restatement of Trust. With a Restatement, we can still salvage paragraphs from the client's previous trust, but add new language into the Restatement to cover many of the Proposition 19 requirements and all in ONE DOCUMENT, instead of having the multiple documents between Trust + the Amendments.

If real estate such as the family home was already transferred to the previous Trust, we can refer to it in the Restatement without having to prepare and record a new deed because the Restatement does not change the original date of the original trust nor the assets previously placed in that trust.