How to Revoke a Living Trust

By Beverly Bird

If your trust is revocable, you have the right to amend it at will. However, sometimes the changes might be so all-encompassing that it’s easier to “erase” your trust and start over. In this case, you also have the right to revoke it. The process isn't complicated, but you have to do something with the assets you placed into it.

If your trust is revocable, you have the right to amend it at will. However, sometimes the changes might be so all-encompassing that it’s easier to “erase” your trust and start over. In this case, you also have the right to revoke it. The process isn't complicated, but you have to do something with the assets you placed into it.

Step 1

Change the title on all property you placed in the trust, transferring it back into your ownership. Trusts that contain real estate require new deeds to accomplish this process. Record the new deeds with the county clerk where your property is located. Notify all financial institutions and other interested parties of the change.

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Step 2

Download a form for a “trust revocation declaration” or “revocation of living trust." These forms are usually available for free from legal websites. You can also ask for one at your local courthouse.

Step 3

Complete the revocation form. It is usually no more than a single page. Fill in the date that you established your trust and your name. Include a sentence indicating that your trust grants you the right to revoke it and that you are doing so.

Step 4

Sign the revocation in the presence of a notary public. You can usually find one at your local bank or an attorney’s office. Courthouse staff can also sometimes notarize documents.

Step 5

Call your local court and inquire as to whether you need to file your revocation. In some states, you can simply attach it to your trust documents and store it with your will or new trust documents.

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How to Get Rid of a Trust

References

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What Is the Procedure to Cancel an Existing Living Trust?

Sometimes you need to revisit your previous financial planning decisions. If you recently had a major change in income or assets, which often happens following a divorce, the way in which your property is titled or managed may need a complete overhaul. As part of this adjustment, if you have a living trust that you wish to cancel, you may do so by executing the appropriate revocation paperwork.

Amending a Testamentary Trust

To set up a testamentary trust, you include language in your last will and testament stating your intention to establish the trust. Because your will doesn't take effect until you're deceased, the testamentary trust can be amended before your death, usually by amending the will.

How to Prepare an Amendment to a Revocable Trust

You create a living trust to transfer assets to the control of a trustee, who has the legal authority to manage the assets and distribute them to your named beneficiaries according to your instructions. A revocable trust is one that you may legally amend at any time with the use of a simple amendment.

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