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Revoking Trust

Usually, once a Trust (or Waqf) is created, it often stays for life and does not require revocation or termination. It's a simple process that can take a day or two to complete and sign the form, but moving assets out of the Trust may take longer. The Trust needs to dissolve when the vesting date is reached, no longer needed to eliminate the ongoing cost, or the purpose is fulfilled. The Trust can be revoked when the Grantor(s) wish to revoke it for any reason. Trust can dissolve automatically when no assets in Muslim Trust or all Grantors and Trustees die. Trust does not terminate automatically if there are provisions in a Trust that are laid out to restrict Trust dissolving. Sometimes, when there are issues or risks, Trust can be revoked through a court order. In another scenario, the Court may initiate dissolution due to any issues of non-compliance to regulations. Since creating and maintaining Trust (or Waqf) requires lots of effort, you must take the revoking decision cautiously because it will take much effort to re-establish it once revoked. We provide a detailed Trust revocation steps and checklists with your estate plan purchase so you do not miss anything before you feel comfortable. You should follow the TEN (10) steps below to complete the Trust dissolution.

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