Legal Question in Wills and Trusts in New York

irrevocable trust
My two brothers and I made an irrevocable trust in 1994. My now 83 year-old mother was the donor. We did this to protect part of my mother's assets in case she had to go to a nursing home, so we could use Medicaid to pay for the nursing home.
However, my two brothers and I now want to BREAK the irrevocable trust so as to have the money in the trust available to pay for better senior living facilities for my mother than a nursing home provides.
Can my brothers and I, who are the remaindermen/ beneficiaries of the irrevocable trust, now break the trust? If so, is there a simple legal document required to do this, signed by me and my brothers, or does a court have to give a formal written permission? If we can, I assume that both my two brothers and I (ALL remaindermen) would have to agree to breaking the trust. Is that correct?
Thanks.

Asked on 1/17/01, 9:03 pm

Norman Nadel Norman Nadel, Esq.

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Re: irrevocable trust

Trust agreements, even if described as irrevocable, may be terminated with the consent of all interest parties.

This includes all adult beneficiaries; that's the easy part.

Infants and unborn persons may also have to be protected.

Who are the trustees??

Any definitive answer to your question would require a review of the trust agreement and an evaluation of "interested parties".

A lawyer's guidance is highly recommended.

Answered on 2/13/01, 8:51 am

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