How do I revoke an existing trust to create a new one?
I would like to create a new trust for my mother. There have been no changes made in writing to the trust since 2014. I have called the original lawyer of the trust and she said that she would need a retainer of $5,000 and a written statement from my brother, who is the current trustee.
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Your mother can revoke her trust instantly by signing a simple statement titled "Revocation of [Her Trust's Name]" that says she wants to revoke her trust effective immediately as of today's date.
Then she signs that statement in front of a notary public and gives a copy of it to the current trustee and that legally revokes the trust. It is literally that simple.
Then, if she wants to create another Trust, she is free to do so and can put whatever terms in it that she wants.
She can use an online service like eForms to get assisted help in drafting up a new trust and can avoid the crazy expensive fees that a local attorney wants to charge her.
Once it is signed and notarized, it is an entirely new and legally valid Trust.
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My Mother's current Trust has not been updated since 2014.
Lexi, Chatbot
I understand the importance of keeping your mother's Trust up to date. When was the last time any changes were made to the Trust document?
I would like to create a new trust. There have been no changes made in writing to the trust since 2014.
Lexi, Chatbot
Have there been any significant life events or changes in assets since the Trust was last updated in 2014?
Yes, I am to be the new Trustee. My older brother died, my younger brother WAS the named trustee AT THAT TIME. Now he is unwilling.
Lexi, Chatbot
Is there anything else the Estate Lawyer should know before I connect you? Rest assured they'll be able to help with creating a new Trust and addressing the change in Trustees.
No.
Barrister
Hello and welcome to the site! My name is Barrister and I am a licensed attorney, and I am here to help with your situation.
Is your mother's trust a revocable trust, or is it an irrevocable trust? It should say in the beginning language of the trust somewhere or possibly even in the title of the trust.
Revocable.
Barrister
Okay, then the only person who could make changes to the trust would be your mother if she is the one who set it up because she is the trustor (the maker).
A trustee doesn't have legal authority to make changes or modify a trust unless specifically granted that authority in the trust.
But your mother can either amend her trust with a simple Amendment to the trust or she could revoke the entire trust and start over fresh if she wanted to do so.
If the only change to the trust is to designate you as the current trustee, then that can be accomplished with a simple Amendment that states she is appointing you as the trustee and removing whoever is in that position now.
All she has to do is sign that statement in front of a notary public and then attach it to the current trust, and that creates a valid Amendment.
I have called the original lawyer of the trust and she said that she would need a retainer of $5,000 and a written statement from my brother.
I would like to create a new trust and my mom wants this too.
Barrister
Your mother can revoke her trust instantly by signing a simple statement titled "Revocation of [Her Trust's Name]" that says she wants to revoke her trust effective immediately as of today's date.
Then she signs that statement in front of a notary public and gives a copy of it to the current trustee and that legally revokes the trust. It is literally that simple.
Then, if she wants to create another Trust, she is free to do so and can put whatever terms in it that she wants.
She can use an online service like eForms to get assisted help in drafting up a new trust and can avoid the crazy expensive fees that a local attorney wants to charge her.
Once it is signed and notarized, it is an entirely new and legally valid Trust.
Thank you.
Barrister
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