Revoke a Trust

How can I revoke a trust?

All trusts can be revoked it’s just that some are a little more straight forward than others. If the trust has within it, the power of revocation, then the settlor (the person who created it) can end the trust. If there is no power of revocation in the trust, quite common, then there are still a range of things you can do. You can gain court approval to revoke the trust where you present to the court the reason for the revocation and the court give you a judgement. The beneficiaries of the trust can agree to terminate the trust if it is no longer fulfilling the purpose it was put in place for, which will require a formal agreement such as a deed of variation or deed of surrender. A trust can of course just expire over time because it has come to the end of the period it was put in place for. Most of these tasks are time consuming and potentially costly so if you have a trust and you don’t think it is working for you give us a call and we can see if there is anything that can be done to make it more usable.