There is no need to have both. But it is very common to have a testamentary trust for tax reasons and to provide for minors.
Every trust is unique to the document that created that trust. You need to review the trust document for your answer.Every trust is unique to the document that created that trust. You need to review the trust document for your answer.Every trust is unique to the document that created that trust. You need to review the trust document for your answer.Every trust is unique to the document that created that trust. You need to review the trust document for your answer.
You need to review the provisions of the trust document.You need to review the provisions of the trust document.You need to review the provisions of the trust document.You need to review the provisions of the trust document.
If the property is in a trust it is not in a person's estate and it can managed or sold according to the provisions of the trust. You need to review the trust document.If the property is in a trust it is not in a person's estate and it can managed or sold according to the provisions of the trust. You need to review the trust document.If the property is in a trust it is not in a person's estate and it can managed or sold according to the provisions of the trust. You need to review the trust document.If the property is in a trust it is not in a person's estate and it can managed or sold according to the provisions of the trust. You need to review the trust document.
to develop trust you need to be close to a person, you need to know them well enough to understand what they are like, and you need to know that they trust you also.
You need to review the terms of the trust. The trust is administered according to the provisions set forth in the instrument that created the trust.You need to review the terms of the trust. The trust is administered according to the provisions set forth in the instrument that created the trust.You need to review the terms of the trust. The trust is administered according to the provisions set forth in the instrument that created the trust.You need to review the terms of the trust. The trust is administered according to the provisions set forth in the instrument that created the trust.
You need to review the provisions of the trust to determine if the trust allows a "beneficiary buy-out".
A court would need to amend the trust.A court would need to amend the trust.A court would need to amend the trust.A court would need to amend the trust.
You need to review the terms of the particular trust to determine how the beneficiaries are to be paid.You need to review the terms of the particular trust to determine how the beneficiaries are to be paid.You need to review the terms of the particular trust to determine how the beneficiaries are to be paid.You need to review the terms of the particular trust to determine how the beneficiaries are to be paid.
The best policy is "trust but verify".
Read the document that created the trust to find how the trust can be terminated. If there is no provision for terminating the trust you need a court order.
You need to review the terms of the particular trust. Each trust is unique and contains all the provisions of the trust and all the powers of the trustee. You need to check to see if the trustee has the power to execute a deed to transfer the real estate.You need to review the terms of the particular trust. Each trust is unique and contains all the provisions of the trust and all the powers of the trustee. You need to check to see if the trustee has the power to execute a deed to transfer the real estate.You need to review the terms of the particular trust. Each trust is unique and contains all the provisions of the trust and all the powers of the trustee. You need to check to see if the trustee has the power to execute a deed to transfer the real estate.You need to review the terms of the particular trust. Each trust is unique and contains all the provisions of the trust and all the powers of the trustee. You need to check to see if the trustee has the power to execute a deed to transfer the real estate.
You need to review the trust to determine what the trustee was supposed to do.You need to review the trust to determine what the trustee was supposed to do.You need to review the trust to determine what the trustee was supposed to do.You need to review the trust to determine what the trustee was supposed to do.