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Is false upon the death of the parents of a special needs child having a rebocable third party snt the snt must become irrevocable?
False. A revocable third-party special needs trust (SNT) does not automatically become irrevocable upon the death of the parents of a special needs child. The terms of the trust document dictate its status, and typically, a revocable SNT can be converted to an irrevocable SNT upon the grantor's death, but this is not a universal rule. It is essential to consult the specific trust language and legal advice for accurate guidance.
What else can I help you with?
Does a revocable trust become irrevocable upon death of grantor?
It depends upon how the trust is written. Generally, yes.
Is a crummey trust an irrevocable trust?
Yes, a Crummey trust is a specific type of irrevocable trust commonly used in estate planning to take advantage of annual gift tax exclusion amounts. Beneficiaries of a Crummey trust have the right to withdraw gifts made to the trust within a certain period, after which the gifts become irrevocable.
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.
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.
Can a trustee dissolve an irrevocable trust?
When you click on the link that has been provided for you beneath this answer it will take you directly to a webpage where you will find everything that you need to need to know about irrevocable trusts and trustees.AnswerThere are revocable trusts and irrevocable trusts. A trustee can only do what is provided in the trust and what is allowed by law. A properly drafted revocable trust should have a provision for the dissolution of the trust. An irrevocable trust is notsubject to change or dissolution. You should consult with the attorney who drafted the trust to determine your options.
Why do people become parents?
First of all this is a stupid question but they become parents because they want a child.
Are trusts a matter of public record?
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.
Did you have to be someone special to become a mummy?
you had to be royalty to become one
How did Santa Claus become real?
No, My parents told me it's parents!!!!!!!
How do orphans become orphans?
orphans become orphans when they lost their parents
Why do you have no parents?
All person have biological parents. A person might become an orphan if their biological parents both die.
If your parents are protestant can you become Jewish?
Yes.
