Trusts/Revocable/Irrevocable
My father has a trust which was created by my mother and himself. We belief the trust is irrevcable. My mother died and my father has re-married. In the case of an irrevocable trust is his second wife entitled to anything, we also have a quick claim deed established in our name for his home?
1 Answer from Attorneys
Re: Trusts/Revocable/Irrevocable
If the trust was irrevocable at your mother's death then he cannot change it. However, the terms of the trust may permit your father complete discretion on what to do with the assets as well as remove the assets from the trust. He may be able to remove the assets and create another trust altering the trust with your mother.
A trust is literally a contract and it is controlled by the terms of the trust.
I suggest you have it reviewed by an attorney that specializes in estate planning.
For more information on estate planning I invite you to explore our website www.thecenterforelderlaw.com
Don Rosenberg
Related Questions & Answers
-
Stocks We have an elderly mother at the age of 95 our father died 28 yrs ago. our... Asked 3/07/07, 8:31 am in United States Michigan Elder Law
-
Guardianship My father is in a nursing home since 2-10-07. A lawyer for the nursing... Asked 2/27/07, 9:44 pm in United States Michigan Elder Law
-
Medicaid and savings bonds My mother and I are joint owners ( her name is stated... Asked 2/25/07, 7:13 pm in United States Michigan Elder Law
-
Guardian Inquiry I am currently the legal guardian for my Mother who suffered two... Asked 9/06/06, 9:52 pm in United States Michigan Elder Law