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 Posted: Mon Jun 22, 2009 1:32 pm Post subject: |
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Hi lajones57,
An irrevocable trust can be amended under these circumstances:
- Some irrevocable trusts have the provision whereby the Trustee or the beneficiary can change the conditions of the trust. This is possible under very limited circumstances. And like I have earlier mentioned that the trustee can petition the court (state) to change the terms of the trust.
- There are some irrevocable trusts that allow the trustee to appoint a Trust Protector who will have the power to conclude whether any change should be brought about in the Trust keeping in mind the pros and cons of the changes made.
- Some trusts have the provision whereby the Trustee or the beneficiary has the power to change any terms in the trust by exercising a lifetime or testamentary power of appointment.
- Lastly, if in case any or all of the property put in the trust is discarded or sold off, then this may terminate the trust as a whole. Any remaining asset after this would be evenly distributed to the beneficiaries as named in the trust.
lajones57, there must be some clause in the trust by which your step mom has been able to change the terms. Do you have a way to find out?
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sil
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| Posted: Thu Jun 25, 2009 9:56 am Post subject: |
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Hi lajones57,
If the trust is irrevocable and unamendable then the trustees are responsible to the beneficiaries of the trust. Your mother can't amend the conditions mentioned in the trust contract. If you are named as beneficiary under the trust the trustees are responsible to protect your interest, failing which they can be challenged by you. Your mother probably doesn't know how the irrevocable trust operates. The only way she can remove you from the benefits is by dissolving the current trust and exclude you from the future one. However, it'd still be wise for you to consult the issue with an attorney.
~Jeremy |
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JeremyHolter
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| Posted: Wed Jul 22, 2009 1:11 pm Post subject: |
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lajones57.
Considering the dollar amounts you are mentioning I strongly suggest you gather & arrange all the documents you can get and take them to a Law Firm that specializes in Estate, Trust fund, and inheritance Law in your State.
Now, not later, Now.
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That's my 2¢ worth for now. ( maybe ± a couple ¢ ) 
FK, |
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FK
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