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That depends on the validity of the trust, the terms of the trust and the source of the property that was transferred to the trust.
If you transferred property to the trust and the trust isn't valid then that property remains in the your estate. If the trust property is to be transferred to you upon her death then the property will become part of your estate. If the trust is not properly drafted the property will also be exposed to creditors. An improperly drafted trust can cause very costly legal problems when, for example, the trustor dies.
Trust law is extremely complex and varies from state to state. A trust must meet the requirements of the federal tax code. You should have your trust reviewed by an attorney who is an expert in trust law and estate planning.
What else can I help you with?
How do you abbreviate the word revocable?
revocable
can a revocable trust be terminated before it's expiration date and devided however the trustee wants or does it have to be divided equally shares?
A revocable trust can typically be terminated before its expiration date, with the assets distributed according to the provisions outlined in the trust agreement or at the discretion of the trustee. The trustee may have the flexibility to distribute the assets as they see fit, depending on the terms specified in the trust document.
Can a property held in a Revocable Living Trust qualify for the Florida homestead exemption?
While I am not a Florida attorney, the general rule is that including property in a Revocable Living Trust does not change the ownership for purposes of a homestead exemption. Because such a trust is revocable at any time, it is still considered your property and therefore still qualifies for a homestead exemption.
Is there a revocable copyright license?
Yes; most licenses are non-exclusive, limited, and revocable.
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.
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.
What is the meaning of the word revokcable?
Revocable is a legal term. Something that is "revocable" is able to be cancelled at a later date.
How to properly name a revocable living trust?
To properly name a revocable living trust, use your full name as the grantor followed by the words "Revocable Living Trust" and the date it was created. For example, "John Smith Revocable Living Trust, created on January 1, 2022."
Can revocable trust have POA?
no
How many syllables are there in word revocable?
There is four syllables in the word revocable. The syllables are rev-o-ca-ble.
How can one avoid probate in Pennsylvania?
One can avoid probate in Pennsylvania by creating a revocable living trust, designating beneficiaries on accounts and assets, establishing joint ownership, and utilizing payable-on-death accounts and transfer-on-death deeds.
Where can I get information on revocable trusts?
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.
