Can I revoke Trust?

The answer is Yes or No.

• You can revoke Trust if it is revocable.

• You can revoke Trust if all who were part of creating and maintaining Trust agree.

• You can revoke Trust if there is a good reason to revoke, for example, if Trust intent is met or you do not need Trust because your wealth and personal situation have changed.

• You cannot revoke Trust if it is irrevocable Trust.

• You cannot revoke Trust due to the provisions of Trust. For example, you created a Trust that restricts dissolving as per the terms in the Trust agreement enforced by the Grantor.

• You cannot revoke Trust under litigation, which can only be dissolved through a court order.

When should you not revoke Trust?

You should not revoke or dissolve Trust in one of the following situations.

• If you have significant assets in one or more countries, you should not dissolve but improve the Trust agreement.

• If you are gaining the tax benefits then you should not consider dissolving.

• If there is a disagreement among your family members and Trustees regarding Trust dissolution, you should not resolve it until it is settled.

• If there is no good reason to revoke Trust because it takes lots of time and effort to create and maintain Trust, you should not dissolve it unless it is necessary and makes sense after in-depth evaluation.

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