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What else can I help you with?
How can you tell if a trust is irrevocable?
Generally, an irrevocable trust is titled 'irrevocable' or is designated as such somewhere in the first few paragraphs.
What is the difference between credit shelter trust and irrevocable trust?
What is the difference between credit shelter trust and irrevocable trust?
If timber is sold on land in irrevocable trust should it go into the irrevocable trust account?
no
Can a testamentary trust be revocable?
No. A testamentary trust is irrevocable. The maker is deceased and cannot revoke it.No. A testamentary trust is irrevocable. The maker is deceased and cannot revoke it.No. A testamentary trust is irrevocable. The maker is deceased and cannot revoke it.No. A testamentary trust is irrevocable. The maker is deceased and cannot revoke it.
Is property held in an irrevocable trust protected in bankruptcy?
Can you protect your assets from bankruptcy by placing them in an irrevocable trust?
Is there a settlor in an irrevocable trust?
if a settlor of an irrevocable trust feels that he was not properly informed by his attorney of all the restrictions what can he do
Is a blind trust the same as an irrevocable trust?
No, a blind trust and an irrevocable trust are not the same. A blind trust is a specific type of trust where the trustee manages the assets without the beneficiary's knowledge of the holdings or transactions, often used to avoid conflicts of interest. An irrevocable trust, on the other hand, is a trust that cannot be altered or revoked by the grantor once established, meaning that the assets are permanently transferred out of the grantor's control. While a blind trust can be irrevocable, not all irrevocable trusts are blind.
If an irrevocable trust lists wrong address of people making trusts can it be broken?
Generally, the parties to a trust are listed in the original trust and the trust is not modified as time marches on and addresses change. That in and of itself would not be grounds to nullify the trust.
Where can I get more information for an irrevocable trust?
You can get information on what a irrevocable trust is at the following sites I found for you to have a look at www.dummies.com/.../revocable-versus-irrevocable-trusts.htm ,en.wikipedia.org/wiki/Trust_law
What are all the options in which an Irrevocable Trust can be broken by the grantor?
You should seek the advice of an attorney who is familiar with trust law in your state as well as the rules of the IRS. See the link below.
How can a irrevocable be broken?
An irrevocable trust can generally be modified or terminated only under specific circumstances, such as if all beneficiaries agree to the change and the terms of the trust permit it, or if a court finds that circumstances have changed significantly since the trust was created. Additionally, some jurisdictions allow for judicial modification if it serves the best interests of the beneficiaries. However, breaking an irrevocable trust can be complex and may require legal guidance to navigate the applicable laws and requirements.
Where is the form for the irrevocable trust Is the living trust the same as an irrevocable trust?
The biggest difference between the trusts is that the Living Trust is revocable and can be changed over time. For detailed information visit: http://www.ultratrust.com/revocable-trusts-vs-irrevocable-trusts.html
