Amendment, Revoking and adding property to Revocable Trust by Maker or Agent

The maker of a revocable trust may amend, revoke, or add property to a revocable trust, or to direct the actions of the trustee of a revocable trust by the terms of the trust.

Upon revocation of a revocable trust, the trustee shall deliver the trust property as the maker directs.

An agent under a power of attorney can modify, revoke or disburse a revocable trust only to the extent expressly authorized by the terms of the trust or the power.

A conservator or guardian may revoke, amend, or distribute trust property only with the approval of the Chancery court supervising the conservatorship or guardianship.

If the trustee does not know that a trust has been revoked or amended is not liable to the maker of the trust or successors in interest for distributions made and other actions taken on the assumption that the trust had not been amended or revoked.

The maker my amend or modify the trust:

  1. By substantial compliance with a method provided in the terms of the trust; or
  2. If the terms of the trust do not provide a method or the method provided in the terms is not expressly made exclusive, by:
    1. A later will or codicil that expressly refers to the trust or specifically devises property that would otherwise have passed according to the terms of the trust; or
    2. Any other method manifesting clear and convincing evidence of the settlor’s intent; however, a written revocable trust may only be amended and revoked by a later written instrument delivered to the trustee.

Upon revocation of a revocable trust, the trustee shall deliver the trust property as the maker directs.

 

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All content is for informational purposes only. It is also only intended to relate to Mississippi Estate Planning Law.  If other states are mentioned, they are mentioned as an example only. No legal advice is provided in this content. Laws change so you need to check for any updates by current laws in Mississippi.