Difference Between Cancellation And Revocation

State:
California
Control #:
CA-E0178G
Format:
Word; 
Rich Text
Instant download

Description

The document titled Revocation of Living Trust serves as a formal notice that a Trustor revokes a previously established revocable trust. It is essential to understand the difference between cancellation and revocation: cancellation refers to the annulment of a contract or agreement, while revocation specifically pertains to rescinding a legal document such as a trust. This form highlights several key features, including that the entire trust is revoked, all assets are to be returned to the Trustor, and that the revocation is effective on a specified date. To fill out the form, users must provide the names of the Trustor(s), the name of the trust, and the effective date of revocation, while ensuring the Trustor(s) sign and date the document. Specific use cases include situations where the Trustor decides to alter their estate planning, or when circumstances warrant discontinuing the trust. The form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants who facilitate estate planning or manage trusts, ensuring clear documentation of changes in trust status.
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FAQ

When revocation happens, a privilege, title, or status is removed from someone. If the library revokes your library card, you can no longer take out library books ? that's a type of revocation. If a restaurant is dirty, that could result in the revocation of its health license.

'Cancel' - checks are canceled so they can no longer be used. A performance is canceled, rather than postponed, when it will not be rescheduled. 'Revoke' - A person's drivers privledges can be revoked for DUI. That means they are taken away - the physical licence will be canceled, similar to a check.

/ (?r?v??ke???n) / noun. the act of revoking or state of being revoked; cancellation. the cancellation or annulment of a legal instrument, esp a will. the withdrawal of an offer, power of attorney, etc.

To take back or withdraw; annul, cancel, or reverse; rescind or repeal: to revoke a decree. to bring or summon back.

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Difference Between Cancellation And Revocation