75-7-605 - Revocation or amendment of revocable trust. - Utah Statutes

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75-7-605. Revocation or amendment of revocable trust.
(1) Unless the terms of a trust expressly provide that the trust is irrevocable, the settlormay revoke or amend the trust. This Subsection (1) does not apply to a trust created under aninstrument executed before May 1, 2004.
(2) If a revocable trust is created or funded by more than one settlor:
(a) to the extent the trust consists of community property, the trust may be revoked byeither spouse acting alone but may be amended only by joint action of both spouses; and
(b) to the extent the trust consists of property other than community property, each settlormay revoke or amend the trust with regard to the portion of the trust property attributable to thatsettlor's contribution.
(3) The settlor may revoke or amend a revocable trust:
(a) by substantially complying with a method provided in the terms of the trust; or
(b) if the terms of the trust do not provide a method or the method provided in the termsis not expressly made exclusive, by:
(i) executing a later will or codicil that expressly refers to the trust or specifically devisesproperty that would otherwise have passed according to the terms of the trust; or
(ii) any other method manifesting clear and convincing evidence of the settlor's intent.
(4) Upon revocation of a revocable trust, the trustee shall deliver the trust property as thesettlor directs.
(5) A settlor's powers with respect to revocation, amendment, or distribution of trustproperty may be exercised by an agent under a power of attorney only to the extent expresslyauthorized by the terms of the trust or the power.
(6) A conservator of the settlor or, if no conservator has been appointed, a guardian ofthe settlor may exercise a settlor's powers with respect to revocation, amendment, or distributionof trust property only with the approval of the court supervising the conservatorship orguardianship.
(7) A trustee who does not know that a trust has been revoked or amended is not liable tothe settlor or settlor's successors in interest for distributions made and other actions taken on theassumption that the trust had not been amended or revoked.

Enacted by Chapter 89, 2004 General Session

State Codes and Statutes

Statutes > Utah > Title-75 > Chapter-07 > 75-7-605

75-7-605. Revocation or amendment of revocable trust.
(1) Unless the terms of a trust expressly provide that the trust is irrevocable, the settlormay revoke or amend the trust. This Subsection (1) does not apply to a trust created under aninstrument executed before May 1, 2004.
(2) If a revocable trust is created or funded by more than one settlor:
(a) to the extent the trust consists of community property, the trust may be revoked byeither spouse acting alone but may be amended only by joint action of both spouses; and
(b) to the extent the trust consists of property other than community property, each settlormay revoke or amend the trust with regard to the portion of the trust property attributable to thatsettlor's contribution.
(3) The settlor may revoke or amend a revocable trust:
(a) by substantially complying with a method provided in the terms of the trust; or
(b) if the terms of the trust do not provide a method or the method provided in the termsis not expressly made exclusive, by:
(i) executing a later will or codicil that expressly refers to the trust or specifically devisesproperty that would otherwise have passed according to the terms of the trust; or
(ii) any other method manifesting clear and convincing evidence of the settlor's intent.
(4) Upon revocation of a revocable trust, the trustee shall deliver the trust property as thesettlor directs.
(5) A settlor's powers with respect to revocation, amendment, or distribution of trustproperty may be exercised by an agent under a power of attorney only to the extent expresslyauthorized by the terms of the trust or the power.
(6) A conservator of the settlor or, if no conservator has been appointed, a guardian ofthe settlor may exercise a settlor's powers with respect to revocation, amendment, or distributionof trust property only with the approval of the court supervising the conservatorship orguardianship.
(7) A trustee who does not know that a trust has been revoked or amended is not liable tothe settlor or settlor's successors in interest for distributions made and other actions taken on theassumption that the trust had not been amended or revoked.

Enacted by Chapter 89, 2004 General Session

State Codes and Statutes

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State Codes and Statutes

Statutes > Utah > Title-75 > Chapter-07 > 75-7-605

75-7-605. Revocation or amendment of revocable trust.
(1) Unless the terms of a trust expressly provide that the trust is irrevocable, the settlormay revoke or amend the trust. This Subsection (1) does not apply to a trust created under aninstrument executed before May 1, 2004.
(2) If a revocable trust is created or funded by more than one settlor:
(a) to the extent the trust consists of community property, the trust may be revoked byeither spouse acting alone but may be amended only by joint action of both spouses; and
(b) to the extent the trust consists of property other than community property, each settlormay revoke or amend the trust with regard to the portion of the trust property attributable to thatsettlor's contribution.
(3) The settlor may revoke or amend a revocable trust:
(a) by substantially complying with a method provided in the terms of the trust; or
(b) if the terms of the trust do not provide a method or the method provided in the termsis not expressly made exclusive, by:
(i) executing a later will or codicil that expressly refers to the trust or specifically devisesproperty that would otherwise have passed according to the terms of the trust; or
(ii) any other method manifesting clear and convincing evidence of the settlor's intent.
(4) Upon revocation of a revocable trust, the trustee shall deliver the trust property as thesettlor directs.
(5) A settlor's powers with respect to revocation, amendment, or distribution of trustproperty may be exercised by an agent under a power of attorney only to the extent expresslyauthorized by the terms of the trust or the power.
(6) A conservator of the settlor or, if no conservator has been appointed, a guardian ofthe settlor may exercise a settlor's powers with respect to revocation, amendment, or distributionof trust property only with the approval of the court supervising the conservatorship orguardianship.
(7) A trustee who does not know that a trust has been revoked or amended is not liable tothe settlor or settlor's successors in interest for distributions made and other actions taken on theassumption that the trust had not been amended or revoked.

Enacted by Chapter 89, 2004 General Session