I have a trust for 1 property from 2004. I need to do a new trust for all my properties and assets. Will my new trust cancel the old trust? Prior attorney has died and I cannot find my copy.
Assuming you need a new trust, and further assuming that you transfer the assets from the old trust to the new trust, and further assuming that new trust and pour-over will contain language that they are intended to supercede all prior wills and testamentary inatruments, then yes.
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Possibly if done correctly. If you do a new trust, you will have to transfer your assets from the old trust into the new one. Then then new trust will control. If you want to avoid that step you can restate the terms of your trust through a restatement which essentially keeps the same trust and funding, just changes the provisions you want in it.
Your new trust can specifically revoke any & all prior trusts or wills. Kudos to you for updating to address your current situation & all of your assets.
My office handles exclusively Estate Planning, Probate, Conservatorship & Special Needs Planning matters in ALL counties in CA. This answer is for informational purposes only and does not establish an attorney-client relationship. You should consult with an experienced attorney to discuss the specific facts of your case
Possibly, if properly drafted.
New trust does not automatically revoke prior trust.
However, you have options to completely revoke prior trust:
-create new ttust which specifically revokes previous trust;
-amend and restate previous trust
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