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Can A Settlor Who Has Reserved The Power Of Revocation Revoke A Trust At Anytime?

April 26, 2017anytime modification power Revocable Revocation revoke settlor Trust trusts

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Can A Settlor Who Has Reserved The Power Of Revocation Revoke A Trust At Anytime?

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Save for a couple of exceptions, a person creating a revocable trust can revoke the trust at anytime so long as the revocation is within the terms of the trust agreement. A revocable trust cannot be revoked when the person creating the trust is incompetent. Nor, may a revocable trust be revoked by a conservator, or guardian, appointed to an incompetent settlor. Furthermore, a revocable trust cannot be revoked by a successor or an agent, unless the agent was specifically granted the power of revocation.