Quora Answer: Can Beneficiaries be Changed in an Irrevocable Trust?

The following is my answer to a Quora question: “Can beneficiaries be changed in an irrevocable trust?” 

The beneficiaries can be changed in any trust, revocable or irrevocable.  However, in an irrevocable trust, the settlor has that sole right, not the trustees.  The trustees, however, must agree to it, but they cannot normally initiate this.  Understandably, it must be something very drastic for the settlor to even consider this, and the process is onerous. 

If the irrevocable trust is testamentary, meaning that the settlor has passed away, the trustees do not have that right.  For there to be a change of beneficiaries, there must be a good legal reason such as fraud or identity theft, or anything that would compromise or impact the letter of wishes.  That process must go through the courts. 

If a settlor has an issue with a beneficiary, it is easier to simply amend the letter of wishes, and adjust the distribution of assets of the trust to the beneficiary, and reduce that beneficiary’s share to a minimum, even a dollar.