Section 13.36.340. Modification and revocation of revocable trusts.

   (a) A trust that is revocable by the settlor may be modified or revoked in whole or in part by
        (1) substantial compliance with a method of modification or revocation provided in the trust instrument; or
        (2) a writing, other than a will, signed by the settlor and delivered to the trustee during the lifetime of the settlor, except that, if the trust instrument expressly makes the method of revocation provided in the trust instrument the exclusive method of revocation, the trust may not be revoked under this paragraph.
   (b) Unless otherwise provided in the trust instrument, if a trust that is revocable by the settlor is created by or funded by more than one settlor,
        (1) the trust may be modified or revoked as provided in AS 34.77.100 to the extent the trust consists of community property under AS 34.77 (Alaska Community Property Act);
        (2) each settlor may modify or revoke the trust as to the portion of the trust property contributed by that settlor that is not community property under AS 34.77.
   (c) A revocable trust may not be modified or revoked by an attorney-in-fact under a power of attorney unless the modification or revocation is expressly permitted by the trust instrument.

Authorities

13.12.580

Notes

References

AS 13.12.580 Change to trust after declaration.

History

(Sec. 2 ch 104 SLA 2000)