Sunday, June 1, 2014
In In re Schlicht, No. 32,632, 2014 WL 1600914 (N.M. Ct. App. Apr. 17, 2014), the court held that state law based on the Uniform Trust Code validated the revocation of a lifetime trust by its settlor/trustee who reserved the right to revoke the trust by “a duly executed instrument to that effect” signed by the settlor and “delivered to the Trustee” through a provision in the settlor’s will expressly revoking the trust. The court explained that the will substantially complied with the trust’s revocation provision and also clearly showed the settlor’s intention to revoke.
Special thanks to William LaPiana (Professor of Law, New York Law School) for bringing this case to my attention.
See Charles E. Rounds, Jr., The Confusion Being Engendered by the Uniform Trust Code’s Default Trust-Revocation Methodologies (§ 602(c)), JD Supra, June 2, 2014.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.