Legal Question in Wills and Trusts in Oregon

Re: Wills and trust

I'll try answer each of your questions one at a time.

what is difference between a revokable trust and a will

* Revocable trusts are established during lifetime and can be funded during lifetime; wills have no effect until death. Often a will funds the previously established trust (and is called a pourover will). Here in Mass. we allow "dry trusts" which means you can set up a trust and not put any money into it; you would be planning to put it in later when the person dies if their will refers to that trust and leaves money to it. Generally, though, you fund a trust when you set it up (and you add more later if you like) and that trust lasts longer than you, i.e., outlives you, so it has the effect of saying what happens to your money after you're dead. Money in the trust generally does not get allocated according to the will; that money is said to be "non-probate" and therefore "doesn't pass through the will."

..can a trust stand alone without a will?

Absolutely. Because they outlive the donor, they are said to be will-substitutes.

If a father dies leaving a special needs trust to a girlfriend with a best friend as executor what would his children need to do to investigate validity of trust and assests.

Ask the best friend nicely to voluntarily tell you what he will. Other than that, you GENERALLY have no rights unless the trust holds all or most of his net worth or the children are minors, and even then your rights are limited. Is this a Mass. trust? Are you Mass. residents? Are any of the children minors (or at least under 25)? Is Dad / was Dad a Mass. resident? There are some procedures that can be attempted in Probate Court which has authority to deal with some trust matters which might otherwise be private.

the children have been named in trust upon death of girlfriend, the trust will end and equally divided to heirs. It is questionable that this was the final trust. How do they find out if there was an admendment or other paperwork drawn up in another state because he lived in a different state than where the trust was created.

Is the trustee in Mass.?????? We have certain accountability laws that might be able to solve your quandry. Call me if you want.

Do any of you have a good relationship with the girlfriend? There might be a much easier way to find out what you want: ask!

Ask the trustee nicely.