Legal Question in Wills and Trusts in California
What is a revokable trust?
My Grandparents have a revokable trust. My grandfather passed away. My grandmother had all of the funds in her bank account taken away from her by an accountant who is suppose to be the executor of the trust? He is suppose to pay her an x amount of money a month. He has not paid her any money yet and it has been 3 month's.Can my grandmother revoke the trust being's it is a revokable trust and that He is not doing what he is suppose to be doing?
Thank you
1 Answer from Attorneys
Re: What is a revokable trust?
Your grandmother should meet with an attorney, who can review the trust and let her know how it's supposed to work. It may be that the whole trust is revocable, or perhaps part is revocable. I've seen the rare trust that becomes entirely irrevocable at the death of the first spouse, but that is unlikely here. There should also be mechanisms providing guaranteed income and/or replacement of the trustee if the trustee is not doing his/her job well. Each trust is different, and the trust's language will control, so having an attorney review the particular trust should be the first step.
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