If you are the creator, or granter, of a revocable trust, you can revoke the trust at any time if you reserved the right in the original document. Dissolving a revocable trust means returning the assets to their state before the creation of the trust. if you want to make significant changes, it's a good idea to revoke a trust and restate it entirely rather than making cumbersome amendments.
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Inform the trustee of your intention to revoke the trust. If the trust will not to be reinstated in a different form, the trustee should be instructed to cease all activity on behalf of the trust. In many cases, though, the granter of a revocable living trust also serves as the trustee.
Execute a form explicitly revoking the trust and provide a notarised copy to the trustee and any institution or firm that may have a copy of the trust.
Assets owned by the trust should be retitled in the name of the granter. This ensures there is no confusion about the ownership. If the trust is the named beneficiary of a bank account, insurance policy or retirement account, a new beneficiary should be named.
Destroy copies of the trust and request copies held by other parties be returned or destroyed. If you want to keep a copy, cross out your signature and write "revoked" with the date on other pages.
Tips and warnings
- Usually just including the word "revocable" in the title of a trust document reserves the granter's right to amend or revoke the trust. In some instances, particularly if there is more than one granter, the trust document may contain specific instructions on how to dissolve the trust.
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