How to Revoke a Living Trust
A living trust is a legal entity through which you ensure that your business affairs are properly conducted and maintained by one or more people you name as Trustees in the event you are fully incapacitated or die. However, if you have a living trust, there may come a time when you wish to revoke it (your marital status changes, you change your mind about how your assets are to be distributed or you want to create separate trusts). The revocation of a living trust returns all control of property identified in the living trust to you (as "Trustee"). The laws governing trusts and their administration vary from state to state, but the general process for living trust revocation is consistent.
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Things You'll Need
- Living trust revocation agreement form
- Grantor signature(s)
- Witness signature(s)
- Notary public
Instructions
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1
Identify all the living trust grantors. A grantor is a person named in the living trust who has given control of the named assets to the Trustees. Grantors can only revoke the living trust for the portion of assets over which they have ownership.
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2
Fill in the living trust revocation agreement form that is legal for your state (see Resources).
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3
Assemble the grantors and the number of witnesses required for your state. Sign the revocation agreement form in the presence of a notary public who will affix an official stamp or seal to the document.
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4
Provide any mortgage brokers, banks, or other institutions that hold titles for the living trust agreement's assets with copies of the signed and notarized revocation agreement.
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5
Store the living trust revocation agreement with your estate planning documents for future reference.
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Tips & Warnings
Periodically review your living trust to ensure that it correctly reflects your current situation. Your living trust may be amended or revoked right up until the day you are incapacitated or die.
It's always a good idea when drafting estate planning documents to have an attorney review them for applicability and legality in your state.
