Can an irrevocable trust be dissolved based on family conflict?
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Can an irrevocable trust be dissolved based on family conflict?
My parents set up an irrevocable land trust for my brother and I. Since that time, he has pressed criminal charges against me. The charges were dropped, but my parents and I no longer speak to him. All parties as grantors and beneficiaries are still alive. He will fight it if we try to dissolve it. Is there anything we can do?
Asked on May 16, 2011 under Estate Planning, Missouri
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
I would strongly suggest that you go and seek some advice from someone who does estate planning in your area. "Irrevocable" is not always "irrevocable." Some states - such as New York - lave mechanisms and procedures for getting around what seems to be bullet proof, such as an irrevocable trust. New York allows revocation upon consent - hardly likely in your situation - but there are other back door ways to change the terms of the trust, although they may not be immune from a lawsuit by your brother. Some states allow the grantor to "sell" or "transfer" certain of the assets of the trust to a new trust. Seek help. Good luck.
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