Yes. However, you should seek advice from an attorney who specializes in trusts in your jurisdiction who can review your needs and draft a proper trust. Trust law is extremely complicated.
Yes, it is possible for a child to be named as the trustee of an irrevocable trust, although it may not be recommended in all situations. The suitability of naming a child as trustee depends on various factors such as their age, level of responsibility, and ability to handle financial matters effectively. It is advisable to seek guidance from an attorney or financial advisor when deciding on the trustee for an irrevocable trust.
You cannot have the same person as grantor, trustee and beneficiary in any trust. There is no trust created in such a set up. The grantor in an irrevocable trust cannot be the trustee. The property in an irrevocable trust must be permanently separated from the grantor's control.
A trustee and a beneficiary are essential to a trust. Without a trustee and a beneficiary there is no valid trust. They should not be the same person.
yes
You need to review the terms of the trust to determine the extent of the trustee's power.
No. That would invalidate the trust.
A trustee has only the powers set forth in the trust. You must review the trust document to determine what the trustee can do.
my brother is the is in charge of my parents irrevocable will of trust can he remove me
The trustee must sign. The trustee is the only person who has the power to sign on behalf of the trust. It is their purpose.
Yes. The trust would be represented by its trustee in the suit. However, the trustee would not be personally liable.
As trustee that is their responsibility.As trustee that is their responsibility.As trustee that is their responsibility.As trustee that is their responsibility.
The beneficiaries are entitled to an accounting to make sure the trustee is not wasting the trust assets.
In short no, an Irrevocable Trust cant be legally revoked by either party.