§ 28-73-601. 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.
§ 28-73-602. 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 September 1, 2005. (b) If a revocable trust is created or funded by more than one (1) settlor: (1) […]
§ 28-73-603. Settlor’s powers — Powers of withdrawal. [Effective January 1, 2020.]
(a) To the extent a trust is revocable by a settlor, a trustee may follow a direction of the settlor that is contrary to the terms of the trust. To the extent a trust is revocable by a settlor in conjunction with a person other than a trustee or person holding an adverse interest, the […]
§ 28-73-603. Settlor’s powers — Powers of withdrawal. [Effective until January 1, 2020.]
(a) 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 are owed exclusively to, the settlor. (b) During the period the power may be exercised, the holder of a power of withdrawal has the […]
§ 28-73-604. 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 (3) years after the settlor’s death; or (2) ninety (90) days after the trustee sent the person a notice informing the person of the trust’s existence, the […]