Can you modify a revocable trust?

Can you modify a revocable trust?
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Answer :

A revocable trust can be changed or modified prior to the Settlor's (a settlor is the person who opened the trust, in this case your aunt) death. Only the Settlor can change or terminate the trust, and after the death, the trust cannot be changed. If the trust was made with a spouse who has passed away, it may not be possible for the trust to be changed.
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Related questions

My aunt just died. What is a revocable trust?

Description : My aunt just died. What is a revocable trust?

Last Answer : A revocable trust is one where the grantor reserves the right to revoke the trust. It's taxed a little differently than an irrevocable trust. Check with your tax preparer to see if there are any issues. Less ... . I'd say have a certified copy and ask for someone with authority, not a teller or csr.

What kind of terms generally apply in a revocable trust?

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Last Answer : When it comes to a revocable trust, the trust is usually used for immediate family, or people who are listed on the trust. There is no trustee so it is pretty much a cheaper option since it is straight forward process.

Difference between a Revocable Living Trust and Dynasty Trust.?

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Last Answer : In both a revocable living trust and dynasty trust, the trust assets are managed by a trustee separate and apart from your personal assets. The primary difference is that a revocable trust can be modified ... a dynasty trust is created it cannot be revoked or modified by the settlor of the trust.

can a revocable trust be terminated before it's expiration date and devided however the trustee wants or does it have to be divided equally shares?

Description : can a revocable trust be terminated before it's expiration date and devided however the trustee wants or does it have to be divided equally shares?

Last Answer : A revocable trust is just that - revocable. If you are the creator of the trust, you can revoke it and change ownership of property.

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Last Answer : Revocable trust includes many advantages. Revocable Trust's main advantage is the agreement provides flexibility and income to the living grantor.

What makes a revocable trust revocable?

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Last Answer : Yes. The settlor ordinarily reserves the right in the trust document to amend or revoke the trust at any time during his or her lifetime. This enables the settlor to revise the trust (or even terminate the ... of mind. It also gives the settlor the peace of mind that he can undo what he has done.

Where can I search to learn about revocable trust?

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Last Answer : Revocable trust is the process where you send your assets to someone you trust in order to have tax breaks when someone inherits an estate. ehow.com has some good briefings on the subject.

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