Legal Question in Wills and Trusts in Texas
Irrevocable Trust
What is the procedure to find out if a educational trust was set up as irrevocable or not? Is there a record somewhere? It was ser up by grandparents, and the grandfather is still alive. Thanks
2 Answers from Attorneys
Re: Irrevocable Trust
First, you could ask your grandfather. If you know who the trustee is, you could ask to see the trust document itself, and see if it's revocable or irrevocable.
Re: Irrevocable Trust
Normally trusts of this type are irrevocable. It is possible grandpa contributed to the Texas Tomorrow Fund which guarantys tuition to a State College, but can be used (or applied to tuition) at any college. They have a website at www.texastomorrowfund.com. There are other types of college savings plans as well and are most commonly known as 529 college savings plans.