Q: I am the named Trustee in a joint revocable trust. The trust specifically states that the trust can be revoked at any
time upon written notification delivered to me. The last surviving Grantor revoked but never notified me, executed a new trust and changed benneficiaies, then died 10 months later. Had I been notified of the revocation per the terms of the trust, I would have contested. Do the terms of the Trust apply ? Also I would like to know, Is there a time limit for a Grantor to notify the Trustee if it was revoked? Thankyou
A:
It should be done 'at the same time as the revocation' but there is no hard and fast rule of how late is 'too late'. It is very much fact dependent.
Similarly, it sounds as if the trust you were trustee of didn't have any assets in it? Those assets would have needed to be moved to the new trust if there were any, and the trustee (you and you alone?) would have been the only person who had authority to act to move those assets to the new trust. If there were no assets in the trust, then dissolving one and making a different one would be simple, but if there were no assets in a trust, it makes probate necessary, and most people who want a trust do so in order to avoid probate.
Your question is a LOT more complicated, and I bet there are facts you omit here that would influence the analysis. I'd suggest consulting with a local estate planning/probate attorney so he can gather ALL the facts, and review ALL the documents. Without that, you're going to get an incomplete answer. This forum is not an appropriate place to disclose that much private information! Seek local representation.
-- This answer is offered for informational purposes only and does not constitute legal advice or create an attorney/client relationship.
I am licensed to practice in Michigan only. Please seek competent local legal help if you feel you need legal advice
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