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The trust certificate can be considered an outline or summary of the primary documents describing the trust. Trust documents can be complex and lengthy, more than 100 pages in some cases.
Governing doctrines. Pour-over will; Cy-près doctrine; Hague Convention (conflict law) Application in civil law; Dishonest assistance; Estate administration
A revocable, or “living” trust is a commonly used type of trust that allows the grantor — the trust’s creator — to make changes, or even cancel the trust, based on their preferences.
The final text of the Uniform Trust Code (UTC) was approved by the ULC commissioners in August 2000. The American Bar Association's House of Delegates officially endorsed the UTC in February 2001. The following months saw the finalization of detailed interpretive comments in April 2001 and minor clean-up revisions in August 2001. [ 2 ]
Such trusts must be irrevocable (a revocable trust will not provide asset protection because and to the extent of the settlor's power to revoke). Most of them contain a spendthrift clause preventing a trust beneficiary from alienating his or her expected interest in favor of a creditor. The spendthrift clause has three general exceptions to the ...
A revocable trust or revocable living trust is one that can be amended, changed, or even dissolved. Usually, this type of trust makes the most sense when the grantor is alive and healthy.
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