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Can a will override an older revocable trust?
The trust property is not part of the estate unless the trust is found to be invalid and the testator was also the trustor. The will provides for the distribution of property owned by the testator at the time of death. More specific details may be added on the discussion page.
can a revocable trust be terminated before it's expiration date and devided however the trustee wants or does it have to be divided equally shares?
A revocable trust is just that - revocable. If you are the creator of the trust, you can revoke it and change ownership of property.
Difference between a Revocable Living Trust and Dynasty Trust.?
In both a revocable living trust and dynasty trust, the trust assets are managed by a trustee separate and apart from your personal assets. The primary difference is that a revocable trust can be modified or even revoked by you during your lifetime. Once a dynasty trust is created it cannot be revoked or modified by the settlor of the trust.
Can changes be made to beneficiaries in a revocable trust that was originally prepared by an attorney?
Yes, changes can typically be made to beneficiaries in a revocable trust that was prepared by an attorney. You would need to work with the attorney who drafted the trust to amend the document and update the beneficiaries accordingly.
Where can I search to learn about revocable trust?
Revocable trust is the process where you send your assets to someone you trust in order to have tax breaks when someone inherits an estate. ehow.com has some good briefings on the subject.
Why would one work with a revocable trust?
Revocable trust includes many advantages. Revocable Trust's main advantage is the agreement provides flexibility and income to the living grantor.
Can revocable trust have POA?
no
Can changes be made to beneficiaries in a revocable trust that was originally prepared by an attorney?
Yes, changes can typically be made to beneficiaries in a revocable trust that was prepared by an attorney. You would need to work with the attorney who drafted the trust to amend the document and update the beneficiaries accordingly.
Is a residuary trust revocable or non revocable?
A residuary trust is set forth in a Will and is non-revocable after the death of the testator. It can be amended or revoked while the testator is still living.
can a revocable trust be terminated before it's expiration date and devided however the trustee wants or does it have to be divided equally shares?
A revocable trust is just that - revocable. If you are the creator of the trust, you can revoke it and change ownership of property.
Can a will override an older revocable trust?
The trust property is not part of the estate unless the trust is found to be invalid and the testator was also the trustor. The will provides for the distribution of property owned by the testator at the time of death. More specific details may be added on the discussion page.
Can the surviving spouse dissolve a revocable living trust for the purpose of disinheriting a beneficiary?
Typically, a surviving spouse cannot unilaterally dissolve a revocable living trust for the purpose of disinheriting a beneficiary if the trust was set up by both spouses. However, they may be able to amend the trust if it allows for changes to beneficiaries. It is important to consult with an attorney for specific legal advice in this situation.
Difference between a Revocable Living Trust and Dynasty Trust.?
In both a revocable living trust and dynasty trust, the trust assets are managed by a trustee separate and apart from your personal assets. The primary difference is that a revocable trust can be modified or even revoked by you during your lifetime. Once a dynasty trust is created it cannot be revoked or modified by the settlor of the trust.
How do you find out who the executor is of a revocable trust is?
A revocable trust has a trustee not an executor. If you want to know something about the trust you would need to ask the trustor. The trustor is the person who created the trust to hold title to their property.
What does the Revocable Living Trust provide?
A revocable living trust is very similar to a living will. The owner of money or property can determine what happens to their estate after their death.
Where can I search to learn about revocable trust?
Revocable trust is the process where you send your assets to someone you trust in order to have tax breaks when someone inherits an estate. ehow.com has some good briefings on the subject.
How do you change the conditions of a trust?
To change the conditions of a trust, you would typically need to amend the trust document by following the specific procedures outlined in the trust agreement or state law. This may involve drafting a trust amendment document, getting it signed by the grantor and trustees, and possibly notarizing it. It is advisable to consult with a legal professional to ensure the changes are done properly.
