What is the process for a trustee to cancel a revocable trust and transfer the money directly to the beneficiary?
If the trustee has the authority to revoke the trust, he or she can do so with a simple written statement, then funds in the trust can be transferred back to the trustor/grantor, who can transfer them directly to the beneficiary.
Before taking such steps, however, the attorney who was involved in drawing up the trust should be consulted to make sure that the dissolution of the trust does not have unintended consequences.
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If the trustee has the authority to revoke the trust, he or she can do so with a simple written statement, then funds in the trust can be transferred back to the trustor/grantor, who can transfer them directly to the beneficiary.
Before taking such steps, however, the attorney who was involved in drawing up the trust should be consulted to make sure that the dissolution of the trust does not have unintended consequences.
