Just the same as a will, a living trust in Bellevue can be altered anytime you wish. After all, the name “revocable living trust” pretty much says it all. You have the right to change its terms or end it altogether if you so desire.
If you decide to revoke your trust, there is more to doing so than simply tearing up a piece of paper. You need to know which steps to take, ensuring that your trust is voided.
Tip: if you don’t take the appropriate steps, it could lead to a lot of issues for your loved ones upon your death.
To avoid any trouble, contact an experienced Bellevue estate planning attorney who can review your trust and help you through this process.
Revocable Living Trust in Bellevue
There are many instances in which you may want to revoke a trust, including:
- When going through a divorce
- If you want to make extensive revisions that could lead to more confusion if you simply opt to amend the document
In many cases, the trust itself will tell you the process that needs to be followed to successfully revoke it. If there are instructions, you can contact an estate planning attorney and take their advice.
If you don’t have clear instructions, an attorney can help you better understand the laws set forth by the state in which you live. Once you understand these laws, including how to revoke a trust, you can work with your attorney to do so.
You may have a very good reason for wanting to revoke a trust. At the same time, you may be wondering if this is the right decision for you at the present time.
Here are three questions to answer before you move forward:
- Why did you create a trust in the first place, and what has changed that has you wanting to make such a drastic decision?
- If you don’t have a trust in place, is this going to cause any issues upon your passing?
- Would it be better to simply amend your current trust as opposed to revoking it and possibly starting over from scratch down the road?
Once you answer these questions, either on your own or with the help of an attorney, you will have a clear idea of if you should leave your trust as is, amend it, or revoke it.