The following Private Client guidance note Produced in partnership with Peter Murrin of Turcan Connell provides comprehensive and up to date legal information covering:
Will trusts (or testamentary trusts) are capable of being revoked up until they come into effect on death. In simple terms, a Will (whether containing trust provisions or not) is superseded by a more recent testamentary writing. Whether that is technically a revocation of trust is another matter.
However, a person may bind themselves during their lifetime to bequeath their estate in a particular way, and if they do so, the bequest will be irrevocable in consequence of their obligation.
A duly constituted and completed inter vivos trust can be revoked by the granter if it has been set up purely for the management of their own affairs. Trusts of this nature are known as ‘trusts for administration’.
A trust may be revoked by a settlor or be deemed to be capable of revocation (by application of creditors) where the settlor was either insolvent when the trust was formed or where the settlement had the consequence of rendering the settlor insolvent.
If a person wishes to put their estate beyond the reach of their creditors, the only way in which they can do so is to divest themself of it in such a manner as to place it irrevocably beyond their own reach.
Revocation by a settlor of a lifetime settlement (or inter
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and thousands of others like it, sign-in to LexisPSL or register for a free trial.
Existing user? Sign-in
Take a free trial
0330 161 1234
To view our latest legal guidance content,sign-in to Lexis®PSL or register for a free trial.