How Can I Stop a Revokable Trust?
- 1). Speak to your attorney, or seek the legal advice of an attorney regarding the proper procedures to end the revocable trust. While the settlor can alter or end this type of trust at any time, pertinent laws vary from state to state. A discussion with an attorney helps ensure you properly end the trust according to your state's laws.
- 2). Inform all relevant parties about the end of the trust. This includes the individual in charge of taking care of the trust property, otherwise known as the executor, and all beneficiaries of the trust. Informing these peoples removes ambiguity from your actions. Said another way, you're making your intentions clear.
- 3). Void any documents that created the trust. Again, this removes all doubt that you intended to end the revocable trust. Further, it helps remove the possibility of competing testamentary documents when you decide to create another trust or will. For example, suppose you create a revocable trust document in January of 2011 and decide to stop the trust yet fail to destroy any trust documents. Thereafter, you create a new trust in March of 2011 and die soon thereafter. A question regarding which trust you intended to be yours may arise if your family finds evidence of both. Remove the possibility of this problem by voiding documentation of the revocable trust you wish to end.
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