Legal Question in Wills and Trusts in Arizona
Trust
Does a new Trust superseed or replace an existing Trust? If you write a new Trust, can you you put a statement in it that would replace any and all previous Trusts? In a new Will you can put a statement that replaces all previous Wills.
2 Answers from Attorneys
Re: Trust
First the "old" trust must be desolved or becoming a part of the new one
Re: Trust
A new trust can supercede or replace an existing when it is written as a "restatement" of the first trust agreement. You may also make and execute a new trust agreement and then transfer all of the assets of the old trust to the new trust. Thereafter, you revoke the old trust and it is terminated. Each trust is a separate legal entity, a separate legal person, and thus, a new trust does not automatically supercede or replace the old trust. A person can have more than one trust.
It is common practice to state in a Last Will and Testament, that "all previous Wills are revoked." So long as the new Will is properly made and executed, the last Will is the one that will be probated.