How do I leave money for my grandkids if I already have an irrevocable trust?

UPDATED: Oct 1, 2022

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How do I leave money for my grandkids if I already have an irrevocable trust?

I want to add an equal small amount of money to be paid to each of them first before anything gets distributed to my kids.

Asked on January 29, 2019 under Estate Planning, California


SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 4 years ago | Contributor

An irrevocable trust is exactly what it sounds like: irrevocable. Not only can it not be revoked or eliminated, but it can't be modified, either. It is what it is, and no changes can be made. You can either set up a separate trust for your grandchildren or else simply will money to them on your death (your own money; nothing from the existing irrevocable trust) or even just gift money to them while you are still alive.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

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