Legal Question in Family Law in Texas

Trusts

My mother had a revocable family trust drawn up, with my brother as the prime beneficiary and myself as trustee. We have sold the house and when I attempted to create a bank acct for the proceeds, I learned I needed a tax ID and that with a revocable trust, one must file a regular 1040. I'm now wondering if the correct sort of trust was formed to protect the money.


Asked on 5/21/08, 11:17 am

1 Answer from Attorneys
James Grissom Law Office of James P. Grissom

Re: Trusts

Nope. Should have been IRREVOCABLE. Now you better get a lawyer to fix the mess. Good Luck.

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Answered on 5/21/08, 1:08 pm


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