No. The trust specifies what happens if the beneficiaries are no longer living. It could go to the beneficiaries' estates, or a remainder man, or to a charity. It is possible for the person who set up the trust to leave it to the trustee.
Not necessarily, another trustee will be appointed.
Determine who is the successor trustee
You need to review the terms of the trust to determine how a new trustee must/can be appointed. A beneficiary/trustee invalidates a trust in many jurisdictions and may make the trust property vulnerable to creditors. You should contact the attorney who drafted the trust.
No. Not unless that power was granted in the provisions of the trust. The only powers a trustee has are those specifically recited in the instrument that created the trust. Any changes not allowed by the provisions in the trust must be made by a court.
A properly drafted trust has provisions for the distribution of the trust property upon the death of the beneficiary.
You need to review the terms of the trust to determine how it must be managed. A well drafted trust will include a provision for an alternate beneficiary if the primary beneficiary dies or it will include a provision for the termination of the trust and distribution of any remaining trust property.
If the sole beneficiary of a trust dies, the distribution or fate of the trust corpus (assets) will depend on the terms of the trust itself. Typically, the trust document will outline specific provisions for such a situation, specifying where the assets should go or how they should be distributed. If the trust document does not provide clear guidance, it may be necessary to consult an attorney or trustee to determine the appropriate course of action.
A trust deed conveys property to a trustee who then holds title to the property according to the provisions of the trust. You need to examine the provisions of the trust document to determine who the beneficiaries are. If the house is the only property in the trust you need to read the actual trust document to determine who the beneficiaries are as recited in the trust document. That trust document controls what the trustee may do with the property and who will inherit a deceased beneficiary's interest. If the trust doesn't mention what will happen if one of the siblings dies then perhaps the trust gives the power to the trustee to convey the property by a deed TO the four siblings. You could then decide how it will be held by the four of you. If the trust states the property should ge distributed to the four children upon the death of the parents then the trustee can convey the property to the four children by deed. If that deed recites that the grantees will hold the property as joint tenants with the right of survivorship and one dies, her share will pass to the remaining siblings. If that deed recites that the grantees shall hold as tenants in common and one dies, her share goes to HER heirs. Therefore, if you get a deed from the trustee passing title to you then you can decide for yourselves how title will be held. If the trust doesn't give the trustee the power to sell then the trust will need to be modified by judge so the property can be conveyed to the heirs. In any case, you should seek legal advice from a probate/real estate attorney to straighten this matter out for you. This situation is subject to your own state laws.
You need to review the trust document for the answer to your question. It should contain a provision for distribution of the share of a deceased beneficiary. If the trustee has died a new trustee needs to be appointed to make the distribution. The trust document should also have provisions for the appointment of a successor trustee.
No. Not unless the trustor made that reverter a provision of the trust.If a grantor transferred their property to a trust and reserved a life estate, the life estate continues even if the beneficiary of the trust dies. There should be a provision in the trust that directs where the property should go in the case of the death of the sole beneficiary. This is a good example of the need for an expert to draft any trust.You need to review the terms of the trust to determine how the trust property will be distributed. If the trust doesn't address this issue then it may need to be addressed by a court.
The Trustee of the Trust is responsible for paying the debt out of the trust funds.
In many states a trust that names the trustor, trustee and beneficiary as the same person would fail as a trust. The trust would fail under federal tax laws. The property that was transferred to the trust actually remains the property of the trustee as an individual and is exposed to creditors and the laws of intestacy if the owner dies. In the scenerio set forth above the wife is not an owner but she would inherit an interest in the property if the owner died. For example. If Jack has land conveyed to himself as a trustee of a trust of which he is the trustor and the beneficiary there has been no trust created and Jack owns the property in his own name as an individual. If he died the property would pass to his heirs at law according to the state laws of intestacy. Trust law is extremely complicated and largely due to "free" information available on the internet there has been an abundance of flawed trusts used to hold title to real estate. Those mistakes can be very costly to correct. You need to have this situation reviewed by an attorney who specializes in trusts ASAP.