Does the rewriting of Schedule A of my revocable living trust make it official?

Question

I am rewriting Schedule A of my revocable living trust created in 2003, omitting the assets I no longer have and adding those that I have since acquired. Will it be considered official if I reproduce the page the same as the original (but with the current date of course), and number the page(s) the same as the original? Should I sign the rewritten page (as opposed to initialing the page as on the original)? Can I add my newer car as an asset even though it is titled in my name instead of the trust title? Thank you for including anything else I should consider.

James L. Arrasmith · Answer

Rewriting Schedule A of your revocable living trust to update your assets is a common practice. To ensure that the changes are official, it's essential to follow the proper procedure outlined in your trust agreement. This often involves more than just rewriting and replacing the page. 
 
For the updated Schedule A to be effective, you should sign the new document. Initialing might not suffice, especially if your trust specifies that modifications require a signature. It's also a good idea to date the document to reflect when the changes were made. 
 
Regarding adding your newer car, you can list it as an asset in Schedule A even if it's titled in your name. However, for the trust to have authority over this asset, you might need to retitle the car in the name of the trust. This step is crucial for ensuring the trust can manage the car according to your wishes. 
 
Finally, consider consulting with legal counsel to review the amendments. They can guide you through the process and ensure that your modifications align with legal requirements and the original intent of the trust.

James L. Arrasmith · Answer

In California, revising Schedule A of your revocable living trust is a common step to ensure it reflects your current assets. To make these changes official, it's important that you follow the proper procedure for amending your trust. Simply reproducing the page with the current date and matching the page numbers to the original isn't sufficient by itself. 
 
You should sign the amended Schedule A to authenticate the changes. While initialing might be acceptable for minor alterations, signing is generally recommended for more substantial updates like adding or removing assets. This demonstrates your clear intent to make these changes a part of your trust. 
 
Regarding your car, you can include it in Schedule A of your trust even if it's titled in your name. However, for the trust to effectively manage this asset upon your incapacity or death, you may need to retitle the car in the name of the trust. This process varies, so it's advisable to consult with an attorney or a professional familiar with estate planning to ensure it's done correctly. 
 
Finally, consider reviewing your entire trust document, not just Schedule A, to ensure that all provisions are up-to-date and reflect your current wishes. Circumstances and laws can change over time, and it's prudent to ensure your trust aligns with both.

Q: Does the rewriting of Schedule A of my revocable living trust make it official?