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Key Takeaways. Revocable trusts, as their name implies, can be altered or completely revoked at any time by their grantor?the person who established them. The first step in dissolving a revocable trust is to remove all the assets that have been transferred into it.

Irrevocable trusts cannot be modified, amended, or terminated without permission from the grantor's beneficiaries or by court order. The grantor transfers all ownership of assets into the trust and legally removes all of their ownership rights to the assets and the trust.

Instead, in most cases, an irrevocable trust can only be dissolved by court order. The details of dissolving an irrevocable trust differ widely between states and jurisdictions. However, typically you will need to get approval from the trust's beneficiaries and potentially its trustees as well.

The revocation clause revokes all of the wills and codicils that you (the testator) have made in the past. The purpose of the revocation clause is to prevent any of your earlier wills and codicils from having any legal effect after your new simple will is executed.

After the death of a loved one, it is often difficult to determine whether they have executed a will or locate it. The Secretary of State's office maintains Idaho's will registry. This service will help ensure your loved ones can become aware of the existence and location of your will after your death.

In Idaho, the average cost of drafting a will with an attorney can range between $300 and $1,000, while setting up a trust typically costs between $1,000 and $3,000.