Irrevocable Trusts Can (Sometimes) Be RevokedIrrevocable Trusts Can (Sometimes) Be Revoked
If you want to create a trust that is truly irrevocable and unamendable, be careful which jurisdiction you select. In most, if the terms of an irrevocable and unamendable trust forbid a distribution to the settlor or beneficiaries, there is little either the settlor or beneficiaries can do to get at those funds. But in a few states such as New York, Oklahoma and Wisconsin, as well as under English
Ian Marsh and Michael Ben-Jacob
If you want to create a trust that is truly irrevocable and unamendable, be careful which jurisdiction you select. In most, if the terms of an irrevocable and unamendable trust forbid a distribution to the settlor or beneficiaries, there is little either the settlor or beneficiaries can do to get at those funds. But in a few states such as New York, Oklahoma and Wisconsin, as well as under English law and the law of many Commonwealth jurisdictions, there are circumstances when a seemingly irrevocable and unamendable trust can be revoked or amended.1
Section 7-1.9 of New York's Estates, Powers and Trusts Law provides that if a trust settlor obtains the acknowledged, written consent of all those beneficially i...
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