Trust Instrument Modification

Question 1

Ct Power to Modify

Answer 1

1. Cy Pres

2. Doctrine of Changed Circ’s (circ’s unforeseen by S + necessity to change mgmt provisions to preserve trust)

Question 2

Can S revoke revocable trust?

Answer 2

Maj: needs to be reserved
Min: implied if not irrevocable

Question 3

Can S revoke irrevocable trust?

Answer 3

1. S + Ben’s agree
2. Ben’s agree + material purposes accomplished
3. Statute of Uses (holding bare legal title of real property; should apply to personal property too)