Trusts & Estates Law/best way to change the name of a trust
I am trying to change the name of a trust, but i would like to not go back and re title everything
-1- Can i add a second name to the trust? So that the old properties are in the old trust name and new properties are in the new trust name ?
-2- Or add an alias to the trust?
Any other options ?
I asked this to another guy and he basically replied "why do i need to change the name", so i am looking for a real answer please
You have the following options:
(i) You can change or modify the name of the trust following due procedure and documentation.
Once the new name is approved and changed to, defacto all properties and the future acquisitions will be in the name of the new name adopted.
(2) You can not have two names for the same trust and hence there is no scope of adding another name, alias or second name.
(3) You can incorporate a new trust and all future holdings can be in the new name. Thus you will have two trusts being managed parallel.
Take legal help to complete the formalities, either way you go.
Hope this helps
Dr Swapan Garain
Professor of Social Work