One of the benefits of a revocable living trust is it allows you to change the structure of the trust fund. You are allowed to change the beneficiary and the trustee of your revocable trust whenever you want. The beneficiary is the person who will receive the assets of the trust. The trustee is the person or company managing your trust's assets. Amending the trustee of a revocable living trust should be a straightforward process.
Consult any other parties who established the trust about your intent to amend the trustee. All creators of the trust must agree to an amendment.
Contact the new trustee, and let him know you will be transferring the management of your trust to his supervision. The new trustee must agree to this responsibility.
Write an amendment to your trust stating your decision to change trustees. The amendment will be attached to the original trust document to establish the new trustee.
Consider drafting a restatement of your trust to avoid confusion, especially if you have made previous amendments to the trust document. A trust restatement replaces all of the original trust document and re-establishes the trust under your new conditions. An amended trustee can be part of a restatement.
Retitle the assets of your trust fund under the name of the new trustee. This will give the new trustee authority to manage these assets.
David Rodeck has been writing professionally since 2011. He specializes in insurance, investment management and retirement planning for various websites. He graduated with a Bachelor of Science in economics from McGill University.