QUESTION
My father has a revocable trust he set up for his four children. We want to revoke the trust. How can we
Asked on Jun 16th, 2017 on Trusts and Estates - California
More details to this question:
My father is 95 and now requires us to move him to an assisted living facility which we did. All the trust assests are cash which he has earmarked for us children. But we want to use that money to support him now as it is expensive. We took some money out of one account but the bank want let us deposit it as it in the trust. We just want to break the trust and would like to know the best way to do it. Can you help us?
1 ANSWER
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If the trust is revocable, it can be revoked by the settlor. If an attorney-in-fact has the authority under a power of attorney, then that agent can act for him.
If the trust is irrevocable, it can be modified or revoked with the consent of the settlor and the beneficiaries. This would require a court ruling.
Call or email an attorney for a full consutlation.
Answered on Jun 16th, 2017 at 1:40 PM