14-10602

14-10602. Revocation or amendment of
revocable trust

A. Unless the terms of a trust expressly provide that the trust is irrevocable, a
settlor may revoke or amend the trust subject to any limitations prescribed in the terms
of the trust.

B. If a revocable trust is created or funded by more than one settlor:

1. To the extent the trust consists of community property, the trust may be revoked
by either spouse acting alone as to that spouse's share of the community property but may
be amended only by joint action of both spouses.

2. To the extent the trust consists of property other than community property, each
settlor may revoke or amend the trust with regard the portion of the trust property
attributable to that settlor's contribution.

C. The settlor may revoke or amend a revocable trust either:

1. By substantial compliance with a method provided in the terms of the trust.

2. If the terms of the trust do not provide a method or the method provided in the
terms is not expressly made exclusive, by either:

(a) A later will or codicil that expressly refers to the trust or specifically
devises property that would otherwise have passed according to the terms of the trust.

(b) Any other writing signed by the settlor manifesting clear and convincing
evidence of the settlor's intent.

D. On revocation of a revocable trust, the trustee shall deliver the trust property
as the settlor directs.

E. A settlor's powers with respect to revocation, amendment or distribution of
trust property may be exercised by an agent under a power of attorney only to the extent
expressly authorized by the terms of the trust or, if the terms of the trust do not
prohibit an agent from exercising powers on behalf of the settlor, to the extent
expressly authorized under the power of attorney. If an agent is not so authorized and
the terms of the trust do not prohibit a conservator from exercising powers on behalf of
a settlor, a settlor's power to revoke, amend or distribute may be exercised by the
settlor's conservator with the approval of the court supervising the conservatorship or
by the settlor's guardian with the approval of the court supervising the guardianship if
an agent is not so authorized and a conservator has not been appointed.

F. A trustee who does not have actual knowledge that a trust has been revoked or
amended is not liable to the settlor or settlor's successors in interest for
distributions made and other actions taken on the assumption that the trust had not been
amended or revoked.