Henderson, NV asked in Estate Planning for Kentucky

Q: Can the terms of a trust be amended with the consent of both the executor and the trustee?

I currently receive $1000 a month from my deceased grandmother's estate. The duration of the trust is 60 months, with 34 months remaining. Is it possible to amend the structure of the benefits if both the executor (my uncle) and the trustee (me) consent? For example, instead of receiving $1000 for the next 34 months, could I receive $500 for 68 months? The purpose of restructuring the duration of the trust would be to demonstrate income continuance for a mortgage on a new home.

My grandmother lived in Louisville, Kentucky at the time of passing, the executor lives in Virginia, and I live in Nevada.

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1 Lawyer Answer
Timothy Denison
Timothy Denison
  • Estate Planning Lawyer
  • Louisville, KY
  • Licensed in Kentucky

A: Yes.

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