Modification of a Trust

Question 1

When can a trust be revoked?

Answer 1

Under the UTC, an inter vivos trust is presumed to be revocable unless expressly states otherwise.

Question 2

When can a trust be modified?

Answer 2

Under the Common law and the UTC, a court may order equitable deviation from the terms of a trust when there is unanticipated change in circumstances that would impair the accomplishments of the trust.

Question 3

What terms of the trust can be modified at common law?

Answer 3

Only administrative provisions.

Question 4

What terms of the trust can be modified under the UTC approach?

Answer 4

Administrative terms and dispositive terms if due to circumstances not anticipated by the settlor, modification will further the purposes of the trust.