Results for: Irrevocable-living-trust

Can you change domicile of an irrevocable trust?

  An irrevocable trust cannot be amended. An example of this is an Oklahoma case in which the Tax Commission could tax a trust created in Oklahoma as a resident domiciled (MORE)
In Estates

Can a grantor name himself as a trustee of an irrevocable living trust?

Generally no. In an irrevocabe trust the grantor cannot maintain any control over the trust property. Trust law is very complex and trusts are subject to the IRS Code. If not (MORE)

When does a revocable trust become an irrevocable trust?

There are all kinds of trusts and no single answer. Briefly: A revocable trust can be revoked by the maker (grantor or trustor)during their life. Most trusts automatically co (MORE)
In Estates

Can you sell assets out of a irrevocable trust?

You must look to the trust for your answer. A trust document contains all the provisions necessary for the management of the trust by the trustee. There should be provisions f (MORE)
In Estates

Can there be multiple trustees on an irrevocable living trust?

Yes. The trust should have a clause that declares whether each can act for the trust on their own or if all must sign every document. Yes. The trust should have a clause that (MORE)
In Estates

Can a irrevocable trust be amended or can it be changed?

There are limited circumstances that allow an irrevocable trust tobe amended and laws vary: . The trustor can write that power into the trust document. . The trust can be (MORE)

Does an irrevocable trust supersede a will?

Yes. An irrevocable trust supersedes a will. Any type of trustestablished while the creator of the trust is alive will supersedea will.
Thanks for the feedback!
In Estates

Does an irrevocable trust have to end?

Trust law is a complicated topic and the laws vary in different jurisdictions and for different types of trust arrangements. Generally, with the exception of charitable trusts (MORE)