Revoking vs. Restating a Trust

If you want to make major changes to your Revocable Trust that cannot be achieved through a series of amendments, then you may be considering revoking the entire trust.

If you've set up your Revocable Trust giving you the power to revoke that trust under whatever circumstances you wished, then of course that is your right to do so. However, you may want to consider restating the trust, as opposed to a complete revocation.

If you were to revoke the trust you will have to transfer all of your assets out of the name of the trust back into your name and then you will have to transfer them back again into the new trust. Not only can this be more time consuming to you, but you also run the risk that not all of your assets will get transferred into the new trust. While as if you simply restate the trust that will make sure that all of your current assets remain in the trust, as well as, all of the new assest will be added.

Contact a professional Los Angeles Estate Planning Attorney to find the options that are right for you.

*This blog entry was not written by an Attorney and should not be constituted as professional legal advice.