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Can an irrevocable trust be broken by the surviving spouse just because the trust states the assets are to be divided between the children and not the surviving spouse?
Wiki User
∙ 13y ago
Generally, no. A properly drafted trust removes the property from the decedent's estate and the property passes according to the terms of the trust. That is the primary reason for transferring property to a trust.
Trust law is one of the most complex areas of law. The surviving spouse should consult an attorney who specializes in trust and probate law who can review the situation and explain the options. However, actions to break a properly drafted trust can be extremely costly and rarely succeed.
Wiki User
∙ 13y ago
It's not typically possible for a surviving spouse to break an irrevocable trust unless there are legal grounds, such as fraud or undue influence. The terms of the trust usually determine how the assets are distributed, regardless of the surviving spouse's desires. The surviving spouse may have rights to certain benefits, but these would not usually include breaking the trust.
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What does Az law state when one spouse dies without a will?
In Arizona, if a spouse dies without a will, their assets will typically pass to the surviving spouse. If there are no surviving children or descendants, the surviving spouse will likely inherit the entire estate. If there are children or descendants from a previous relationship, the estate may be divided between the surviving spouse and the children or descendants.
Can you apply for grant of probate based on earlier Will if the deceased executed an irrevocable power of attorney?
No, typically an irrevocable power of attorney remains effective even after the principal's death, meaning the attorney-in-fact can continue managing the principal's affairs. However, the power of attorney does not affect the validity of the deceased's will, and the grant of probate would still need to be based on the last valid will executed by the deceased.
What rights do the children of a deceased parent have when it comes to property if the parent did not have a will and was remarried but was sole owner of real estate prior to marriage?
The rights of the children would typically depend on the local laws regarding intestate succession. In some jurisdictions, the children may have a claim to a portion of the real estate. However, the surviving spouse would usually have rights to a significant portion as well. It is advisable to consult with a probate attorney to determine the specific rights of the children in this situation.
According to NY law if one spouse dies and the property was in both names who becomes sole owner of property?
In New York, if property is held jointly with right of survivorship between spouses and one spouse dies, the surviving spouse becomes the sole owner of the property. This means that the property automatically transfers to the surviving spouse outside of the probate process.
What happens when a married man dies without a will in Oregon?
In Oregon, when a married man dies without a will, his estate will typically pass to his surviving spouse according to state intestacy laws. If there are no children involved, the spouse will likely inherit everything; if there are children, the spouse and children may share the estate. It's recommended to consult with a probate attorney for guidance on navigating the legal process.
What is the difference between credit shelter trust and irrevocable trust?
What is the difference between credit shelter trust and irrevocable trust?
What is the law in the state of Ohio with reference to a surviving spouse receiving the estate when there is no will?
It will depend on whether there are children or not. In most cases the estate is split between any children of the deceased and the spouse.
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
When a parent dies without making a will is money divided between children or does it go to eldest child or son?
Assuming there is no other surviving parent, it will be divided among the children and issue of any predeceased children. The eldest son does not inherit to the exclusion of the other children.
What is the difference between an irrevocable trust and a living trust?
Provisions of a living trust remain valid as long as you stay alive, but the benefactors of your estate are not bound by these provisions once you have died. An irrevocable trust binds the benefactors of your estate to the trust's provisions.
What is a typical attorney fee for the drawing of an irrevocable trust?
The attorney's fee for the drawing of an irrevocable trust will depend on how complicated the situation is. Fees also vary greatly by location; the cost in New York City is far more than having the same thing done in Kalispell, Montana. For most situations, a reasonable fee for an irrevocable trust is somewhere between $400 and $1,200 dollars.
What is irrevocable revolving nontransferable documentary letter of credit?
it's a business transaction done between 02 parties and a bank holding credit
Can an irrevocable trust be converted to a revocable trust after grantor is deceased?
Revoking a trust means it goes back to the grantor. Who is, in your example, deceased.I trust (no pun intended ... well, maybe a little bit) you see the problem here.Essentially, the distinction between a revocable and irrevocable trust vanishes when the grantor dies.
What is the difference between surviving high school app and its free version for ipod?
The free one has ads in it because the price is covered by sponsors and the 0.99 cent one has no ads. :)
What are Texas laws regarding intestacy?
Texas law can get very specific as to who has an interest in the intestate estate. Generally speaking, Texas is a community property state and therefore distinguishes between community property and separate property. There are different rules for each type of property. All of the community property belongs to the surviving spouse unless there are heirs that are not related to the surviving spouse. If this is the case, then the spouse will receive one half of the estate while the heirs will have the other half to divide among themselves. If there are no surviving children or heirs then the surviving spouse will inherit the separate property as well.The General order for distribution is:(1)spouse(2)children(3)parents(4)brothers and sisters
What is the surviving spouse entitled to of the deceased estate?
It depends on if your spouse had a Will. You could get everything, you could get nothing. In my grandmother's Will she left her house to me where if there was no Will the house would have been sold and the money would have been split between her 5 children. In this case there was no spouse. Usually if there is no Will it all stays with the spouse. From there it goes to children.
What happens if your mother die without making a will does her house get split between the 4 children?
Generally, if there is no surviving spouse the children of the decedent will share the estate equally. If there is real property the estate must be probated in order for title to pass to the heirs. You can check the laws of intestacy in your state at the related question link below.
