Legal Question in Wills and Trusts in New York
Living trust
If a person has a living trust in a home and they leave the residence on their own accord is the living trust still valid?
1 Answer from Attorneys
Re: Living trust
The way your question was worded is a little confusing. Presuming you are asking if a person who created a living trust (you do not say if it is revocable or irrevocable) who had placed the house in the trust (I am presuming there is an actual Deed transferring the house to the trust) now leaves the house (you do not say why or how), what happens to the house. If there was an actual Deed and the trust is irrevicable, the house remains in the trust and its use and disposition is controlled by the trust terms. You do not say what the trust says if the house is abandoned, or even if that possibility has been covered. However, if it is actually in the trust and is abandoned, the trustee has the responsibility to carry out the terms of the document. However, if the trust is revocable, the creator of the trust can revoke the trust provisions and re-deed the house to herself or someone else. If revocable, and the house has been deeded to the trust, but still abandoned, and no new Deed reconverying the property to someone is recorded, it stays in the trust and the trustee has the same rights and obligations as if the trust were irrevocable. If there is no trustee named as a successor (presuming the creator was the creator, sole trustee and sole beneficiary), someone will have to apply to a court for instructions on what to do. From my answers, more information may be needed to properly advise you.