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Under what circumstances can the IRS seize an irrevocable trust?
The IRS can seize an irrevocable trust if the trust owes unpaid taxes and the assets within the trust are considered part of the taxpayer's overall assets.
Is step grandchildren treated same as grandchildren under right of representation for a trust?
In general, whether step-grandchildren are treated the same as biological grandchildren under the right of representation in a trust depends on the specific language of the trust document and applicable state laws. Many trusts explicitly include or exclude step-grandchildren, so it's essential to review the trust provisions. If the trust is silent on the matter, courts may interpret the intent of the grantor, which can vary widely. Consulting with a legal expert in estate planning can provide clarity based on individual circumstances.
Can an irrevocable trust be changed if never funded?
An irrevocable trust generally cannot be changed once it has been established, regardless of whether it has been funded. However, if the trust has not been funded and the trust document includes specific provisions allowing for modifications, or if all beneficiaries consent to the changes, it may be possible to amend the trust. Additionally, some jurisdictions allow for court modifications under certain circumstances. It's essential to consult with a legal professional for guidance specific to your situation.
How do you dissolve a irrevocable family trust?
Dissolving an irrevocable family trust typically requires court intervention, and the process can be complex and lengthy. It may involve demonstrating changed circumstances or fulfilling specific legal requirements for trust termination. Consulting with a trust attorney to explore your options and understand the potential consequences is essential.
What are the circumstances for a quistclose trust to operate?
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Can a irrevocable trust be dissolved?
An irrevocable trust generally cannot be dissolved or modified by the grantor once it has been established. However, it may be possible to dissolve an irrevocable trust under specific circumstances, such as if all beneficiaries agree to the termination or if a court finds it necessary due to unforeseen circumstances. Additionally, some trusts may include provisions that allow for certain changes under specific conditions. Always consult a legal expert for guidance in such matters.
What is a substance that carries electricity under circumstances but not under other circumstances is called?
A substance that carries electricity under certain circumstances but not under others is called a semiconductor.
Under what circumstances does your atom have a - charge?
Under what circumstances does your atom have a negative charge
What is a substance called that carries electricity under certain circumstances but not under other circumstances?
A substance that carries electricity under certain circumstances but not under others is called a semiconductor.
How can a irrevocable be broken?
An irrevocable trust can generally be modified or terminated only under specific circumstances, such as if all beneficiaries agree to the change and the terms of the trust permit it, or if a court finds that circumstances have changed significantly since the trust was created. Additionally, some jurisdictions allow for judicial modification if it serves the best interests of the beneficiaries. However, breaking an irrevocable trust can be complex and may require legal guidance to navigate the applicable laws and requirements.
What is a substance that carries electricity under certain circumstances but not under other circumstances called?
A substance that carries electricity under certain circumstances but not under others is called a semiconductor.
What substance that carries electricity under certain circumstances but not under others circumstances called?
A substance that carries electricity under certain circumstances but not under others is called a semiconductor. Semiconductors have properties that allow them to conduct electricity under specific conditions, such as when they are doped with impurities or when they are subjected to heat or light. Common examples include silicon and germanium, which are widely used in electronic devices. Their ability to switch between conducting and non-conducting states makes them essential for modern electronics.
