(a)  Unless the terms of a trust expressly provide that the trust is irrevocable, the settlor may revoke or amend the trust.

(b)  If a revocable trust is created or funded by more than one (1) settlor:

(i)  To the extent the trust consists of community property, the trust may be revoked by either spouse acting alone but may be amended only by joint action of both spouses; and

(ii)  To the extent the trust consists of property other than community property, each settlor may revoke the trust with regard to the portion of the trust property attributable to that settlor's contribution; however, the trust may only be amended by joint action of all settlors.

(c)  The settlor may revoke or amend a revocable trust:

(i)  By substantial compliance with a method provided in the terms of the trust; or

(ii)  If the terms of the trust do not provide a method, or the method provided in the trust is not made exclusive, by:

(A)  A statement expressly amending or revoking the trust in a writing signed by the settlor or in the settlor's will; or

(B)  Any other method manifesting clear and convincing evidence of the settlor's intent.

(d)  Upon revocation of a revocable trust, the trustee shall deliver the trust property as the settlor directs.

(e)  A settlor's powers with respect to revocation, amendment or distribution of trust property may be exercised by an agent under a power of attorney only to the extent expressly authorized by the terms of the trust or the power of attorney.

(f)  Except to the extent otherwise provided in the terms of the trust, a power to revoke a trust includes the power to amend the trust.

(g)  A conservator of the settlor or, if no conservator has been appointed, a guardian of the settlor may exercise a settlor's powers with respect to revocation, amendment, or distribution of trust property only with the approval of the court supervising the conservatorship or guardianship and finding that it meets the settlor's purpose or intent in establishing the trust.

(h)  A trustee who does not know or have actual knowledge that a trust has been revoked or amended is not liable to the settlor or settlor's successors in interest for distributions made and other actions taken on the assumption that the trust had not been amended or revoked.

(a)  While a trust is revocable and the settlor has capacity to revoke the trust, rights of the beneficiaries are subject to the control of, and the duties of the trustee are owed exclusively to, the settlor.

(b)  If a revocable trust has more than one (1) settlor, the duties of the trustee are owed to all of the settlors having capacity to revoke the trust.

(c)  Repealed By Laws 2007, Ch. 155, § 5.

(a)  Subject to the rights of persons dealing with a fiduciary as provided in W.S. 4-10-1013, a person may commence a judicial proceeding to contest the validity of a trust that is revocable during the settlor's life or an amendment thereto within the earlier of:

(i)  Two (2) years after the settlor's death; or

(ii)  One hundred twenty (120) days after the trustee sent the person a copy of the trust instrument and a notice informing the person of the trust's existence, of the trustee's name and address and of the time allowed for commencing a proceeding.

(b)  No trustee shall have any liability under the governing instrument or to any third party or otherwise for failure to provide written notice pursuant to paragraph (a)(ii) of this section.

(c)  For purposes of paragraph (a)(ii) of this section, notice shall have been given when received by the person to whom the notice was given. Absent evidence to the contrary, it shall be presumed that delivery to the last known address of that person constitutes receipt by that person.

(d)  A person failing to commence a judicial proceeding to contest the validity of a trust within the times provided in this section is forever prohibited from commencing any judicial proceeding contesting the validity of the trust.

(e)  Upon the death of the settlor of a trust that was revocable during the settlor's life, the trustee may proceed to distribute the trust property in accordance with the terms of the trust. The trustee is not subject to liability for doing so unless:

(i)  The trustee knows of a pending judicial proceeding contesting the validity of the trust; or

(ii)  A potential contestant has notified the trustee in writing of a possible judicial proceeding to contest the trust and a judicial proceeding is commenced within sixty (60) days after the contestant sent the notification.

(f)  A beneficiary of a trust that is determined to have been invalid is liable to return any distribution received.