Legal Question in Wills and Trusts in California
Thank you Mr. Roach for your expertise in answering my questions.
An inter vivos revocable living trust: If the Trustor of a trust funds his trust with his real estate and later in time decides to gift the real estate to someone, does taking the property out of the trust revoke the trust? Thank you
2 Answers from Attorneys
No. It just becomes an unfunded trust.
If the real property was the only property in the trust, and it is transferred out of the trust, then the trust fails because the trustee has no property to manage.
If the trust is not established because there is no trust property (res) and the subject matter of the trust subsequently comes into the settlor's hands (creator of the trust), a trust will then arise at that subsequent time, IF, and only if, the settlor manifests an intention at that later time to create a trust.
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