Trusts

Pour-over Wills

"If I have a trust do I need a will?"

Revocable Trusts and Irrevocable Trusts

Trusts can either be revocable or irrevocable. Each trust generally sets forth a provision which enables the Trustor to revoke the trust on the happening of one or more events. In a Revocable Trust, this revocation can occur at the will of the Trustor. Anytime the Trustor decides to revoke the Trust, he/she can.

Revocation or Changes in the Trust

Revocation of Trust

If you have provided for a revocable trust, the trust can be revoked at any time. This revocation should be in writing and should be executed in the same manner as the trust was executed originally. There should be a notary attestation, just as in the original trust document.

The Need for Healthcare Directives

Living longer in the United States is a great thing; however, this has caused a number of medical problems. Some of these issues and concerns have serious legal consequences. Quite simply, one of the problems is that many Americans are living into well-advanced years and as a result, they are suffering the effects of older age.

Interest in the Trust Property

Trustee's Interest in the Trust Property One of the fiduciary relationships which arises is between a Trustee and both the Trustor and the Beneficiaries. A Trustee will be most responsible for managing the assets transferred to him/her in Trust and for making sure that these assets earn an appropriate amount of money, if they are assets which should do so.

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