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How do you find out who the executor is of a revocable trust is?
Wiki User
∙ 14y ago
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.
Wiki User
∙ 14y ago
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How does one cancel a revocable trust?
You can cancel a revocable trust by removing the property held in trust because without property there is no trust...or you can notify all concerned individuals of your intent to void the trust; and at this point a notarized statement to cancel would serve well, but one is not required by law.
How do you change the name of a checking account to a special needs trust written up as part of a revocable living trust?
You need to talk to the attorney that drew up your trust(s). If the special needs trust is contained with your living trust, then is it in existence now, or when you die? Check the terms. If it exists now, then there should be a name of the trust, a trustee and you should obtained a taxpayer id# from the IRS. Note that a transfer into the trust is probably a taxable gift. This is not a DIY project. Consult your attorney.
Can executor of a trust write checks to pay bills?
The executor is responsible for settling the estate. That will include writing checks to pay bills. In most cases they will create an estate account to handle these items and be able to provide a complete accounting to the court.
Can a credit card company put a lien on a revocable trust bank account in Arizona?
Yes if they obtain a judgment they can enforce it upon the estate. Since the trust may be altered at any time until the grantor's death, it is considered part of the grantor's and is estate subject to be taxed as well.
What is the Maine executor fee?
There is no set Maine executor fee. It is up to the executor and the court to decide a reasonable amount for a fee.
Are you an executor to a will for ever?
Depends on the case. In the irrevocable trust or a trust after the person dies neither are revocable. If the executor doesnt act properly they can be removed by a judge. Once all of the funds are giving out of the will there is no longer a executor.
Would an executor's fee calculation include monies from a revocable trust that has a trustee other than the estate's personal representative?
Generally no because property placed in a revocable trust is not part of a person's estate.
Where can I find information about available revocable trust's?
If you have came into a large inheritance you can find out information to put it into a revocable trust by going to a bank or ever on some very helpful websites.
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
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 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.
How long does the executor of a revocable trust have to settle an estate in Tennessee?
You have your terms confused. An executor is the representative of a person's estate who carries out the provisions of the will. A trustee is the administrator of a trust. They are both called fiduciaries. Every fiduciary owes a duty to carry out their responsibilities in an efficient and expeditious manner. If they fail to do so then you can file a complaint in the proper court and have them replaced.
Will named you as executor but living trust for the house has no executor named Am I still the executor?
The living trust has a trustee, not an executor. The will is a separate process and you would be the executor.
Can a revocable trust be broken?
Yes, a revocable trust can be revoked or amended as per the wishes of the trust creator. The trust can be broken by following the specific instructions outlined in the trust document or by legally revoking it through a formal process.
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.
Difference between a Revocable Living Trust and Dynasty Trust.?
A Revocable Living Trust allows the grantor to maintain control and make changes during their lifetime, while a Dynasty Trust is irrevocable and passes wealth to multiple generations. A Revocable Living Trust avoids probate but does not provide asset protection, unlike a Dynasty Trust which can protect assets from creditors and estate taxes for multiple generations.
