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Living Trusts Can Be Renounced

Revocable Living Trusts in Los Angeles

A living trust doesn't experience probate and is defined as the sending or transferring of an individual's belongings, resources, and assets spanning throughout the time when the individual is alive - it by their discretion how much they send. If an individual no longer wants the particular trust, they are able to cancel it. According to §15400 in the probate code, an individual that created the trust can reverse the trust, only in the situations where the trust specifically is not removable does that not apply.

Trusts and wills are completely different in terms:

  • Probate requirement
  • How they distribute and give their belongings to another
  • How they distribute and give their assets to another
  • How they distribute and give their resources to another

For answers to an of your questions related to revocable living trusts, speak with our firm today!

What can cause the trust to be reversed?

There are a variety of possible reasons as to why an individual might to reverse or abolish a trust, as well as many possible ways that it can be abolished. Such reversing actions are detailed throughout §15401. There are particular instances in which the trust that was created is abolished according to §15407. They include that it may have passed the time when it was considered effective, the reason it had been created was met or the reasons were considered illegal, or couldn't be completed, as well as if it received reversal.

After the trust is abolished, the individual that maintained the trust can still complete trust obligations, transactions or matters. Are you considering reversing your trust? Since there are several aspects of a trust you may want to contact us, so that we can provide you with the legal aid that is necessary in the creation of a trust. We can also provide you with the needed information regarding trusts and how to reverse them.

Contact our firm today for a case evaluation!

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