Revocable trusts are able to be traced and any accountant should be able to follow a simple paper trail. As long as bank account information is stored accurately, the revocable trust should be able to be tracked down.
You can find more information about revocable trusts online through sites like www.legalzoom.com. You should, though, consult a trusts and estates attorney for the most up to date rules and regulations regarding trusts.
Turner George M. has written: 'Revocable trusts' -- subject(s): Revocable trusts, Estate planning
The biggest difference between the trusts is that the Living Trust is revocable and can be changed over time. For detailed information visit: http://www.ultratrust.com/revocable-trusts-vs-irrevocable-trusts.html
Yes, revocable living trusts have become a viable alternative to the traditional wills in many States . These trusts are favored because they allow you to have more control over your estate when you live and after your death.
Revocable and irrevocable trusts become a public record only if they have been recorded in the land records because they hold title to real property.
As http://www.investopedia.com/articles/pf/06/revocablelivingtrust.asp explains, a revocable trust is an important financial decision. More information the process, in relatively simple terms, is available at the above link.
Generally, lenders do not favor trusts as guarantors.
Revocable and irrevocable trusts become a public record only if they have been recorded in the land records because they hold title to real property.
The different types of trust accounts available for managing assets and funds include revocable trusts, irrevocable trusts, living trusts, testamentary trusts, and special needs trusts. Each type has specific features and benefits depending on the individual's needs and goals.
Yes, a revocable trust can be sued if it holds assets that are subject to legal claims. Creditors or claimants may be able to pursue assets within the trust to satisfy debts or liabilities. However, revocable trusts can offer certain protections and may help safeguard assets from potential lawsuits.
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.
A revocable trust is revocable by its maker. A residual estate is the property left in an estate after specific bequests have been made. The residual estate may be transferred to a trust and that would be a testamentary trust. The maker of a testamentary trust is deceased and cannot revoke that trust. If this doesn't answer your question you must add more details on the discussion page.