The following is a link to a Forbes article entitled “How To Kill An Irrevocable Trust,” click here for the article.
In California Probate Code sections 15400-15414 and related relevant sections govern the modification and revocation of a trust. These statutes and the provisions of the trust itself must be read and carefully evaluated. In some situations it might or it might not be possible to modify or revoke an irrevocable trust. You should consult legal counsel on these issues. The Forbes article is also interesting for its discussion of some of the changed circumstances that might prompt someone to consider seeking to modify or revoke an irrevocable trust, and legal planning opportunities relating to those situations.
Dave Tate, Esq. (San Francisco)
Liability, litigation and trials; mediator and dispute resolution; risk management; D&O; boards, governance and leadership.
Blogs: http://taterealestatelaw.com; http://californiaestatetrust.com