How hard is it to add my nephew to my trust….?

[7.62willdo]

I’m getting older so it’s time…

 

[_Windrider_]

You literally just add him. Depending on your state all you have to do is just draft a letter and add it to the trust.

 

[natdscott]

Call your attorney, but yes that's basically it.

You name him Trustee or Successor Trustee of the "7.62willdo Revocable Trust dated May 14th, 1921"...

But it IS probably an attorney thing, albeit minor.

 

[mmlook]

Call your attorney, but yes that's basically it.

You name him Trustee or Successor Trustee of the "7.62willdo Revocable Trust dated May 14th, 1921"...

But it IS probably an attorney thing, albeit minor.

this

also make sure your nephew is aware of what you are doing, and what it means for him from a responsibility stand point

just took over a trust, where I was not informed until after the fact

took about 2 months, 4-5 meetings with the bank and attorneys

 

[07SGT4623]

adding him as a co-trustee or beneficiary?

adding him as a co-trustee will require him to fill out form 5320.23 responsible person quesionairre on any future purchases by the trust