When Can I Dissolve My Trust?
- Often a trustee dissolves a revocable living trust when the relationship between the parties involved changes. For example, a trustee may no longer wish to pass along trust property to an estranged beneficiary or ex-spouse acting as trustee. Such personal events might make it necessary to dissolve a revocable living trust.
- To dissolve a revocable living trust, fill out a living trust revocation form. Complete the form on your own or through a trust attorney. Provide a legal description for real property and identify the parties involved. Sign and date the form. Instruct the trustee to issue written notice of revocation to the parties involved.
- You must receive written consent from the parties involved to dissolve an irrevocable living trust. If either party refuses to consent to the dissolution of the trust, petition a state court for permission to dissolve the trust. Explain to a probate judge why you wish to dissolve the trust. For example, explain that your relationship with the parties involved has changed.
- You must re-title trust property back to your estate before the trust officially terminates. Complete each transfer using an assignment, an instrument used to transfer property from one entity to another. Sign and date the form and have it notarized by a notary public. Record the transfer at the county clerk's or county recorder's office where the property is located.
Considerations
Living Trust Revocation Form
Irrevocable Living Trust
Re-title Property
Source...