456.6-602. Revocation or amendment of revocable trust.
Revocation or amendment of revocable trust.
456.6-602. 1. Unless the terms of a trust expressly provide that thetrust is irrevocable, the settlor may revoke or amend the trust. Thissubsection does not apply to a trust created under an instrument executedbefore January 1, 2005.
2. If a revocable trust is created or funded by more than onesettlor:
(1) to the extent the trust consists of community property, the trustmay be revoked by either spouse acting alone but may be amended only byjoint action of both spouses; and
(2) to the extent the trust consists of property other than communityproperty, each settlor may revoke or amend the trust with regard to theportion of the trust property attributable to that settlor's contribution.
3. The settlor may revoke or amend a revocable trust:
(1) if the terms of the trust provide a method of amendment orrevocation, by substantially complying with any method provided in theterms of the trust; or
(2) if the terms of the trust do not provide a method, by any othermethod manifesting clear and convincing evidence of the settlor's intent,including the terms of a later duly probated will or codicil that identifythe trust being revoked or the trust terms being amended.
4. Upon revocation of a revocable trust, the trustee shall deliverthe trust property as the settlor directs.
5. A settlor's powers with respect to revocation, amendment, ordistribution of trust property may be exercised by an agent under a powerof attorney only to the extent expressly authorized by the terms of thetrust or the power.
6. A conservator of the settlor or, if no conservator has beenappointed, a conservator ad litem of the settlor may exercise a settlor'spowers with respect to revocation, amendment, or distribution of trustproperty only with the approval of the court supervising the conservator orthe conservator ad litem.
7. A trustee who does not know that a trust has been revoked oramended is not liable to the settlor or settlor's successors in interestfor distributions made and other actions taken on the assumption that thetrust had not been amended or revoked.
(L. 2004 H.B. 1511)Effective 1-01-05