Legal Question in Wills and Trusts in Florida
Can a beneficiary of an irrevocable trust voluntarily give up their benefit?
My uncle died over ten years ago leaving an irrevocable trust with my mother as beneficiary and me as remainder when she dies. My mother is financially set. My husband and I are struggling financially. My mother currently gives us all the income from the trust but would prefer for me to enjoy the benefits as the remainder while she is still alive. Is it legally possible for her to remove herself as beneficiary AND cause the trust to pass on to me?
Thank you.
1 Answer from Attorneys
Re: Can a beneficiary of an irrevocable trust voluntarily give up their benefit?
There are ways to terminate a trust early. Whether the court agrees to do so depends on the particular circumstances, especially whether the main purpose of the trust has been fulfilled. You need to consult an attorney who will examine the documents as well as the situation and give you an opinion on whether it is feasible in your case. Good luck.
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