Legal Question in Wills and Trusts in California
Irrevocable Trust Questions
My father (84) has remarried following my mother's
death. There is a living irrevcable trust in place from
their 50+ year marriage. My father's new wife is tying to
convince him to add herself, and her family to the trust.
Is this legal? Can he even do this, and is she wasting
her time trying to get this done?
What is the difference between an irrevocable and
revocable living trust?
What is the most common?
Thanks
1 Answer from Attorneys
Re: Irrevocable Trust Questions
Usually a trust is revocable until the settlor or one of the settlors dies (settlor is the person who created the trust). When there are two people, the trust is normally divided into two (sometimes 3) trusts. One half of the estate (the survivors trust) is normally still revocable and can be amended. The other half usually becomes irrevocable, and cannot be changed or amended.
There are some things that must be done when the first person dies in order to accomplish all of this, and it is often not done. This process, called trust administration, takes the place of probate.
The answer to your question is that the portion of the trust that is irrevocable cannot be changed, and any attempt to do so would be ineffective. However, there must still be some steps taken to verify that the trust has been administered properly, and I could only tell that if I saw the trust.