| Alan R. Horvath, Attorney at Law |
| Frequently Asked Trust Questions |
| Phone: 209 754-5291 Fax: 209 754-5293 |
| ahorvathlaw@sbcglobal.net |
P.O. Box 81
596 Mountain Ranch Rd.
San Andreas, CA 95249
596 Mountain Ranch Rd.
San Andreas, CA 95249
What is a revocable trust?
Revoke means to reverse. A revocable trust is one where the person who created the trust can undo it at will.
Since revocation is a power reserved to the person who created the trust, a revocable trust can only be created
during your life, and hence a revocable trust is also always a living trust. A revocable trust is considered to still be
the property of the individual who created it. Any income from the trust is taxable to the person who created the
trust on their personal income tax return. Avoiding this income might be one reason for making a trust irrevocable,
or not able to be reversed.
Revoke means to reverse. A revocable trust is one where the person who created the trust can undo it at will.
Since revocation is a power reserved to the person who created the trust, a revocable trust can only be created
during your life, and hence a revocable trust is also always a living trust. A revocable trust is considered to still be
the property of the individual who created it. Any income from the trust is taxable to the person who created the
trust on their personal income tax return. Avoiding this income might be one reason for making a trust irrevocable,
or not able to be reversed.
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