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We wish to revoke our Trust -it is no longer valid in terms…

Customer Question
We wish to revoke...

We wish to revoke our Trust -it is no longer valid in terms of assets=we wish to do this quickly as possible?

Lawyer's Assistant: Since estate law varies from place to place, can you tell me what state this is in?

We are in California

Lawyer's Assistant: Has anything been filed or reported?

Our trust has been filed is all

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

It is an A B Trust -

Submitted: 4 months ago.Category: Estate Law
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Answered in 4 minutes by:
3/10/2018
Estate Lawyer: socrateaser, Attorney replied 4 months ago
socrateaser
socrateaser, Attorney
Category: Estate Law
Satisfied Customers: 40,074
Experience: Retired
Verified

Hello,

If the trust is a typical revocable family trust, you don't need to actually revoke the trust. You can simply transfer title to any assets held in the trust's name back into your personal name(s) (e.g., vehicles, vessels, business entities, stocks, bonds, real estate) -- and then no longer utilize the trust for any purpose.

The trust will remain unfunded indefinitely, and when the survivor of each of you passes away, the trust will have nothing to distribute to any beneficiary and that will terminate the trust.

I hope I've answered your question. Please let me know if you require further clarification. And, please provide a positive feedback rating for my answer (click 3, 4 or 5 stars) -- otherwise, Justanswer retains your entire payment, and I receive nothing for my efforts in your behalf. Note: If you cannot find the rating button on your webpage, please just type in your rating in a response to this note, and customer service will apply the rating for you.

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Estate Lawyer: socrateaser, Attorney replied 4 months ago

Hello again,

I see that you have reviewed my answer, but that you have not provided a rating. Do you need any further clarification concerning my answer, or is everything satisfactory?

If you need further clarification, concerning this matter, please feel free to ask. If not, I would greatly appreciate a positive feedback rating for my answer (click 3, 4 or 5 stars) – otherwise, Justanswer retains your entire payment, and I receive nothing for my efforts in your behalf. Note: If you cannot find the rating button on your webpage, please just type in your rating in a response to this note, and customer service will apply the rating for you.

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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

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