If you already have a revocable living trust in place, you’ve taken an important step in protecting your family and making sure your wishes are carried out. But what happens if your circumstances change or you realize your trust no longer reflects your goals? In Florida, you don’t always have to scrap your trust and start from scratch—you can restate it.
A trust restatement allows you to update your entire trust document without changing the original trust itself. The trust keeps its same name, same date, and most importantly, the same tax identification and legal standing. This makes administration simpler and avoids the complications that come with creating a brand-new trust.
There are many life events and planning considerations that may make a restatement the best option:
Marriage, divorce, the birth of a child, or the death of a spouse or beneficiary can dramatically shift your estate planning needs. A restatement allows you to account for these changes while keeping your trust intact.
If you created your trust in another state, it may not align with Florida law. Restating your trust here ensures it complies with Florida statutes, reducing the chance of confusion or disputes during administration.
Over time, the people you originally chose to serve as trustees, successor trustees, or beneficiaries may no longer be the right fit. A restatement lets you update these designations without amending your trust multiple times.
If you’ve made several amendments over the years, things can get confusing. Restating your trust “resets” the document, consolidating all your changes into one clean version that’s easier for your trustee to follow.
Trust and estate laws evolve, and so do tax considerations. Restating your trust ensures that your plan takes advantage of current Florida law and federal tax rules.
Because a restatement replaces your old trust provisions, it reduces the chance of conflicting instructions. This not only provides clarity for your loved ones but also helps protect your privacy since only the most recent restated trust needs to be shared.
While amendments can be useful for small updates, too many amendments can lead to confusion and mistakes. A full restatement gives you a fresh, clearly written trust that accurately reflects your current wishes—without changing the trust’s legal identity.
If it’s been several years since you created your trust, or if your personal, financial, or family situation has changed, it may be time to consider a restatement. In Florida, this can be a powerful way to ensure your estate plan stays up to date while preserving all the benefits of your original trust.
Working with Emily Hicks Law can help you determine whether a simple amendment or a complete restatement is the best path for you.
