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Author Question: Because most trustors tend to maintain all of the control of their assets during their lifetimes, ... (Read 23 times)

cookcarl

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Question 1

If the trust is revocable, the trustor has the right to change, amend, or terminate the trust at any time as long as:


◦ The trustor is free from any legal disability and remains of sound mind
◦ The trustor consults with an attorney
◦ The trustor consults with the beneficiaries
◦ The trustor applies for the changes through probate court

Question 2

Because most trustors tend to maintain all of the control of their assets during their lifetimes, they do not get to:


◦ See the happiness their gifts given the beneficiaries
◦ See any tax savings
◦ Downsize
◦ Reduce their stress


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Marked as best answer by cookcarl on Mar 2, 2019

Animal_Goddess

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