One of the benefits to creating a trust is that it is easy to revoke some trusts and create new ones. That benefit has a potential downside.
The formal requirements make it difficult to change a will quickly, as the requirements make it less likely that someone else can fraudulently change the will. The witnesses can theoretically testify in court and prevent the fraud.
For many purposes, trusts are better and easier legal instruments to work with than wills. However, that has its downsides as the Wills, Trusts & Estates Prof Blog discusses in "Preserving a Trust."
When a particular trust is easy to revoke or alter, it is easier for someone else to do so fraudulently. For trusts to be valid, they do not always have the formal requirements that wills do. No one needs to be present to witness the trust being signed in most states.
That makes it possible for someone to fraudulently revoke a trust and create a different one that benefits themselves, because the lack of formal trust requirements may at the same time be beneficial and also create a hazard.
There are ways to guard against this possibility when creating a trust. This is one of many reasons why you should not simply download a revocable living trust form online. It is much better to go to an estate planning attorney, who can create a trust and help you execute it with some protections against fraud.
For more information about estate planning in Orlando, FL (and throughout the rest of Central Florida), visit our estate planning website and be sure to subscribe to our complimentary estate planning e-newsletter while you are there.
Reference: Wills, Trusts & Estates Prof Blog (April 1, 2018) "Preserving a Trust."