Revocable Trusts: The Power Lies with the Settlor
Revocable Trusts: The Power Lies with the Settlor
May 20, 2009
When a settlor decides to revoke her revocable trust, no person has the legal authority to challenge the settlor's decision, either before or after the settlor's death. In this case, Liz MacIntyre filed suit against her sister, Agnes Wedell , for asserting undue influence over their recently deceased sister who removed assets from her trust just before her death effectively revoking her revocable living trust . These assets were placed in a joint bank account with Wedell, and MacIntyre as trustee wanted them to be replaced into the trust.
The Fourth District Court of Appeals stated that claims accusing of undue influence are barred as to whether a settlor can remove funds and revoke her trust. The court reasoned that the “the principle of undue influence has no place in determining whether a competent settlor can revoke a revocable trust.”
The Catch… What you need to know is that revocable trusts are exactly what their name indicates: revocable. This case shows us that the settlor of a trust has the power to revoke her trust during her life without fear that anyone can challenge the revocation of her trust on the basis that the settlor was unduly influenced to do so.
MacIntyre v. Wedell, 2009 WL 1393375 (Fla. App. 4 Dist.)
May 20, 2009
When a settlor decides to revoke her revocable trust, no person has the legal authority to challenge the settlor's decision, either before or after the settlor's death. In this case, Liz MacIntyre filed suit against her sister, Agnes Wedell , for asserting undue influence over their recently deceased sister who removed assets from her trust just before her death effectively revoking her revocable living trust . These assets were placed in a joint bank account with Wedell, and MacIntyre as trustee wanted them to be replaced into the trust.
The Fourth District Court of Appeals stated that claims accusing of undue influence are barred as to whether a settlor can remove funds and revoke her trust. The court reasoned that the “the principle of undue influence has no place in determining whether a competent settlor can revoke a revocable trust.”
The Catch… What you need to know is that revocable trusts are exactly what their name indicates: revocable. This case shows us that the settlor of a trust has the power to revoke her trust during her life without fear that anyone can challenge the revocation of her trust on the basis that the settlor was unduly influenced to do so.
MacIntyre v. Wedell, 2009 WL 1393375 (Fla. App. 4 Dist.)