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Your trust is assumed to be valid in the state where the trust document was drafted but it may not be valid in another state. Before you transfer any property in your new state to the trust you should have the trust reviewed by an attorney who specializes in estate planning and trust law in the state where you plan to move. For example, I have seen numerous trust documents in Massachusetts that were intended to hold title to real estate and that failed under Massachusetts law. Specifically, they each named the trustor, trustee and beneficiary to be the same person. In Massachusetts, no trust would be created in that situation thus the trust would fail. Title to the property remains in the grantor. Due to the number of these trusts I have seen, most showing out of state notaries, I assume them to be valid in some jurisdictions. In legal matters you should always seek the advice of an attorney who specializes in the particular area of law that governs your issue.
What else can I help you with?
How can you tell if a trust is irrevocable?
Generally, an irrevocable trust is titled 'irrevocable' or is designated as such somewhere in the first few paragraphs.
Can the grantor of an irrevocable trust include his/her last will & testament in his/her irrevocable trust?
You might check your state laws. Here is some good information: http://www.willtrust.com/trusts.php
What is the difference between credit shelter trust and irrevocable trust?
What is the difference between credit shelter trust and irrevocable trust?
How can a irrevocable trust be undone?
By their very nature an irrevocable trust is very difficult to "undo". You need to consult with an attorney who is an expert in trust law in your state and also an expert in federal tax laws. You can gain some background regarding the difficulty of disabling irrevocable trusts at the link below.
If timber is sold on land in irrevocable trust should it go into the irrevocable trust account?
no
Can you move stock from an irrevocable trust to another trust?
Yes. All you are effectively doing is making a name change.
Can a testamentary trust be revocable?
No. A testamentary trust is irrevocable. The maker is deceased and cannot revoke it.No. A testamentary trust is irrevocable. The maker is deceased and cannot revoke it.No. A testamentary trust is irrevocable. The maker is deceased and cannot revoke it.No. A testamentary trust is irrevocable. The maker is deceased and cannot revoke it.
Is property held in an irrevocable trust protected in bankruptcy?
Can you protect your assets from bankruptcy by placing them in an irrevocable trust?
Is there a settlor in an irrevocable trust?
if a settlor of an irrevocable trust feels that he was not properly informed by his attorney of all the restrictions what can he do
Where can I get more information for an irrevocable trust?
You can get information on what a irrevocable trust is at the following sites I found for you to have a look at www.dummies.com/.../revocable-versus-irrevocable-trusts.htm ,en.wikipedia.org/wiki/Trust_law
How does the trustee of an irrevocable trust distribute to the beneficary who is now deceased?
it goes to the next of Kin or to the state as cherity
Where is the form for the irrevocable trust Is the living trust the same as an irrevocable trust?
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
