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If the grantor in a revocable trust has died, making the trust irrevocable, you will need to complete the application for an EIN. To get all of your estate planning questions answered, you can ...
In South Africa, in addition to the traditional living trusts and will trusts there is a "bewind trust" (inherited from the Roman-Dutch bewind administered by a bewindhebber) [51] in which the beneficiaries own the trust assets while the trustee administers the trust, although this is regarded by modern Dutch law as not actually a trust. [52]
For a revocable trust, the grantor retains the power to direct transactions for the trust, even if a third party serves as the trustee. [16] This may even include situations where there may be a conflict in the grantor's direction and the actual terms of the trust. [15]
When one partner dies, the surviving spouse becomes the sole trustee. The joint trust becomes irrevocable when the remaining spouse dies, just like it would with an ordinary trust.
3. Living trusts allow you to make adjustments if you need to. A living trust is also known as a revocable trust because it can be completely revoked or changed while you're alive. This ...
[a] With the exception of charitable trusts, and some specific anomalous non-charitable purpose trusts, all trusts are required to have ascertainable beneficiaries. Generally speaking, there are no strictures as to who may be a beneficiary of a trust; a beneficiary can be a minor, or under a mental disability (in fact many trusts are created ...
However, a revocable trust can provide language to create sub-trusts upon the death of a grantor (e.g. credit shelter or other irrevocable trusts) that can preserve or reduce future estate tax ...
A resulting trust is an implied trust that comes into existence by operation of law, where property is transferred to someone who pays nothing for it; and then is implied to hold the property for the benefit of another person.