Quora Answer: How Does the Settlor of a Living Trust Change Beneficiaries or Executors?

The following is my answer to a Quora question: “If someone has a living trust, but wants to eliminate a beneficiary or change executors, can they do so as a separate document to minimise costs, or do they have to go through updating the trust?”

The living trust is a revocable trust, meaning that it is not a distinct legal entity from the settlor.  As such, the settlor simply needs to have the trust document amended to change the beneficiaries, and trustees.  Depending on the lawyer engaged, the costs may vary.  However, unless you engage a brand name lawyer, I would not expect it to be more than minimal cost.