[WSBAPT] Irrevocable trust... amended?

[John J. Sullivan]

Rachel:

As long as all interested parties unanimously agree, yes, an irrevocable trust governed by WA law can be amended, revoked or made revocable with a nonjudicial TEDRA Agreement. 

https://app.leg.wa.gov/RCW/default.aspx?cite=11.96A.220

Carefully consider the income, estate and gift tax consequences before making a change. They may shape how you characterize the change. 

Happy New Year to all. 

John Sullivan

Sent from my iPad

> On Dec 31, 2020, at 6:03 PM, Rachel Bender <rachel at bender-law.com> wrote:
> 
> Hi all,
> 
> Irrevocable trust with 4 siblings as beneficiaries. Two of the siblings are co-trustees. Parent is Trustor.
> 
> If the beneficiaries, trustees, and Trustor all agree, can an irrevocable trust be amended or become revocable? Since the Trustor is in the loop and signing the document.
> 
> Thanks! Happy New Year!
> 
> Rachel Bender
> 
> 
> -- 
> Sent from my iPhone
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