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February 28, 2008
Joint power to revoke limits the power of the sole surviving settlor to revoke
A husband and his wife created a joint revocable trust reserving to themselves the power to revoke and stating that the sale or other disposition of the trust property “by us” would be a revocation.
A divided Pennsylvania Supreme Court reversed the appellate court, reported in the March/April 2006 column, and held that the language of the revocation provision unambiguously prevents the surviving settlor from exercising the power to revoke. Scalfaro v. Rudloff, 934 A.2d 1254 (Pa. 2007).
February 28, 2008 in New Cases, Trusts | Permalink
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