Section 46A-6-604 – Limitation on action contesting validity of revocable trust; distribution of trust property.
A. A person may commence a judicial proceeding to contest the validity of a trust that was revocable at the settlor’s death within the earlier of: (1) three years after the settlor’s death; or (2) one hundred twenty days after the trustee sent the person a copy of the trust instrument and a notice informing […]
Section 46A-6-601 – Capacity of settlor of revocable trust.
The capacity required to create, amend, revoke or add property to a revocable trust, or to direct the actions of the trustee of a revocable trust, is the same as that required to make a will. History: Laws 2003, ch. 122, § 6-601. ANNOTATIONS Effective dates. — Laws 2003, ch. 122, § 11-1106 made the […]
Section 46A-6-602 – Revocation or amendment of revocable trust.
A. Unless the terms of a trust expressly provide that the trust is irrevocable, the settlor may revoke or amend the trust. This subsection does not apply to a trust created under an instrument executed before July 1, 2003. B. If a revocable trust is created or funded by more than one settlor: (1) to […]
Section 46A-6-603 – Settlor’s powers; powers of withdrawal.
A. While a trust is revocable, the trustee may follow a direction of the settlor that is contrary to the terms of the trust. B. While a trust is revocable and the settlor has capacity to revoke the trust, rights of the beneficiaries are subject to the control of, and the duties of the trustee […]