Legal Question in Elder Law in Alaska

Re: irrevocable trust

An irrevocable trust can under certain conditions be terminated. Usually an irrevocable trust means that the donor or grantor can not revoke the trust. However, if all beneficiaries want the trust terminated and no material purpose of the trust is defeated then in may be revocable. Additionally, if the trust was set-up under undue influence, fraud or duress there may be grounds for termination. Some irrevocable trust also have provisions in them that provide for termination. If the operation of an irrevocable trust becomes impractical or illegal it may also be revoked.

Whether your particular trust can be revoked is impossible to say. You will need to speak with an attorney well versed in the areas of trust to make that determination. Also, if your trust can be revoked, it may result in penalties or tax consequences which all interested parties will need to be made aware. It is best to consult with an attorney and let him or her review the trust document and advise you accordingly.