"No Take Backs" – Can A Settlor Revoke A Trust?

Circumstances change. What may have made sense for someone at one time of their life may not make sense at a different time. But what happens if you are a Settlor of a trust who now regrets their decision to place certain assets into the trust. Can you simply ask for the assets back? Does the Settlor have the ability to unilaterally revoke the trust after it is created? Like most legal questions the answer is "it depends".

Rose v. Rose, 2006 CanLII 20856 (ONSC), offers an excellent insight into the reasons why a Settlor may later regret their decision to place certain assets into a trust, as well as the application of the general principle of whether a Settlor can unilaterally revoke a trust.