613. REVOCABLE TRUSTS

613 REVOCABLE TRUSTS 613.1 The term “revocable” shall mean that the grantor, settlor, transferor, creator or trustor of the trust has the right to recover property transferred to the trust and to end the trust at any time, thereby regaining absolute ownership of the trust property. 613.2 A trust is revocable if the grantor, settlor or trustor expressly reserves the power to revoke the trust under the terms of the trust instrument. 613.3 If a power to revoke is not expressly reserved, the revocability of the trust is determined under the law governing the trust. Trusts created under District law prior to March 10, 2004 are presumed irrevocable, while District trusts created on or after that date are presumed revocable. 613.4 The grantor, settlor, transferor, creator or trustor of a revocable trust is deemed to be the present beneficiary of the trust. SOURCE: Final Rulemaking published at 65 DCR 1454 (February 9, 2018). District of Columbia Municipal Regulations Taxation and Assessments 9 DCMR § 613