Modification and Termination
Turn now to the various ways that a revocable trust may be modified or terminated by the settlor, how an irrevocable trust can be modified or terminated, and the typical grounds for trust termination or modification by a court.
After a valid trust has been created, circumstances may arise that render the trust impractical or otherwise undesirable. As a result, the settlor, the trustee, or the beneficiaries may wish to modify or even terminate the trust. Today, you’ll learn about the modification and termination of trusts.
In our discussion today, we’ll be talking about the various ways that a trust may be modified or terminated. First, we’ll cover how a settlor may modify or terminate a revocable trust. After that,...