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You need to review the document that created the trust. A trust should contain all the provisions necessary to the management of the trust property by the trustee. It should recite all the powers of the trustee and what should happen to the trust property at the termination of the trust.
Title to trust property stands in the name of the trustee who holds title in the name of the trust. The type of trust you refer to usually has detailed instructions as to how the trust property should be distributed upon the death of the grantor and how that property should be transferred by the trustee.
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After death Is a beneficary entitled to see a copy of an irrevocable trust after death?
After death is a beneficary entitled to see a copy of a testamentary trust?
How do you dissolve an irrevocable trust upon death of grantor?
It depends upon how trust is written. Sometimes the trust will allow for ways to dissolve it.
Does a revocable trust become irrevocable upon death of grantor?
It depends upon how the trust is written. Generally, yes.
How can you tell if a trust is irrevocable?
Generally, an irrevocable trust is titled 'irrevocable' or is designated as such somewhere in the first few paragraphs.
Does a trust become irrevocable after the death of the maker of the trust?
Generally yes. When the maker has died it can no longer be revoked. The provisions in the trust document will control it.
What is the difference between credit shelter trust and irrevocable trust?
What is the difference between credit shelter trust and irrevocable trust?
If timber is sold on land in irrevocable trust should it go into the irrevocable trust account?
no
Can a testamentary trust be revocable?
No. A testamentary trust is irrevocable. The maker is deceased and cannot revoke it.No. A testamentary trust is irrevocable. The maker is deceased and cannot revoke it.No. A testamentary trust is irrevocable. The maker is deceased and cannot revoke it.No. A testamentary trust is irrevocable. The maker is deceased and cannot revoke it.
Is a Grantor Retained Annuity Trust revocable or irrevocable?
A Grantor Retained Annuity Trust (GRAT) is an irrevocable trust that allows the grantor to transfer assets to beneficiaries while retaining an annuity interest for a specified period. Once the GRAT is established, the terms cannot be changed or revoked by the grantor.
Can an irrevocable trust be changed by the trustor?
No. The grantor retains no control over an irrevocable trust, legally.
Can a irrevocable trust become revocable if the only trust document is a will?
Trust law is one of the most complex areas of law. It depends on the instrument that creates the trust. You need to discuss this question with an attorney who specializes in trust law. Generally a trust set forth in a will is revocable by the testator during her life and irrevocable after her death.
When a revocable living trust becomes irrevocable at death can the sucessor trustees be changed by the current trustee?
Yes, if that power was granted in the trust instrument.
