How to Revoke a Revocable Living Trust in Florida

By Michael Butler

In Florida all living trusts are revocable unless the trust document states otherwise. That means that the person creating the trust, the settlor, can terminate the trust, or his portion of it, at any time. Florida law does not provide a specific way to revoke a living trust. The settlor only needs to make his intention to revoke the trust known by clear and convincing evidence.

Step 1

Read the trust document. If it states a method for revoking the trust, you must substantially comply with that method.

Step 2

Determine what type of property is held in a trust created by more than one person. If the property is community property, only one of the settlors needs to revoke the trust. If the property is separate property, a settlor can only revoke the portion of the trust that is his property. To completely revoke a trust with separate property, all settlors must manifest their intent to revoke it.

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Step 3

Draft a letter to the trustee that explicitly states that you want to revoke the trust.

Step 4

Sign the letter in front of a notary public. Although not required by Florida law, this will help show proof of your intentions if anyone questions it later. All settlors who wish to revoke their portion of the trust need to sign the letter.

Step 5

Send the letter to the trustee.

Step 6

Transfer the assets of the trust to their new owners. For example, if the trust owns a bank account, follow the bank's procedures to transfer the account back to yourself. Different assets will have different procedures for transfer.

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Amending a Florida Trust
 

References

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How to Dissolve My Revocable Living Trust in California

The settlor of a California revocable living trust may dissolve all or part of the trust at any time. A revocable living trust is an estate planning tool used to keep assets out of probate. A settlor creates the revocable living trust, transfers ownership of selected assets to it, and usually designates himself as trustee and primary beneficiary. He names alternate beneficiaries to receive assets upon his death. Until that event, he retains use and control of the assets, and retains the right to dissolve the trust at will.

Can an Heir Sell Property When the Title Is in a Revocable Living Trust?

Revocable living trust property generally cannot be sold outright by a beneficiary; the property must be first transferred to the beneficiary and placed in his name. However, if under the terms of the trust, the beneficiary has the right to claim trust assets for personal use, this is a simple issue of transfer. The key issue is the trust's restrictions on distributions. The trust creator's intent, whether there are multiple beneficiaries or the existence of a spendthrift clause can limit a beneficiary's ability to sell trust assets. Trust law varies by state so consider consulting an attorney if you wish to sell trust property.

Is a Living Trust Good in All States?

Living trusts are a commonly used estate planning tools, because they are flexible and recognized in every state. The person who creates the trust maintains control of her property during her lifetime and upon her death, the property automatically transfers to the beneficiaries named in her trust.

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