Even when a trust is considered irrevocable, it does not mean that it can never be changed. For example, if an inheritance from a trust would disqualify a disabled beneficiary from receiving public need-based benefits that the beneficiary would otherwise be eligible, then the trust may be changed through judicial modification.
Changes may be made if they are shown to be in the best interests of the beneficiaries with special needs. If a court modifies a trust to convert it into a special needs trust, it can preserve the disabled beneficiary’s eligibility for public benefits such as Medicaid and Supplemental Security Income (SSI). However, the future beneficiaries of the trust who could inherit in the current beneficiary’s death would receive notice of the proposed change and have the option to consent or object.
To explore your options for changing an irrevocable trust through a judicial modification, contact Bach, Jacobs, & Byrne at (941) 906-1231.
