A trust can be amended it a number of ways depending on whether the trust is revocable or irrevocable. Usually, an irrevocable trust cannot be modified unless there is a judicial modification or the trust terms allow for a modification. A recent court ruling in Florida now provides that a “trust protector” may amend a trust.
What is a trust protector? A trust protector is a person that is appointed to watch over the trust and to ensure the trust is not adversely affected by a change of law or other circumstance. A trust protector can be appointed when the terms of the trust specifically confer on a trustee or other person the power to direct the modification or termination of the trust. The law concerning trust protectors in Florida stems from section 808 of the Uniform Trust Code, or UTC, and the case, Minassian v. Rachins, was the first major court decision to interpret this provision of the Florida Trust Code. Continue reading