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RayAnswers, Attorney
Category: Estate Law
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Experience:  Texas lawyer for 29 years in Estate law
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When creating a revocable trust, does the use of the word Living

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When creating a revocable trust, does the use of the word Living trust can replace the term revocable. If the trust doesnt mention the word revocable but only states Living trust, and that the power of trustees allow then to sell, trade, manage etc...the assets would it be sufficient to consider it a revocable trust. I trust I am looking at doesnt states that the grantor can revoke the trust but it is called the xxxxxxx Living trust and the trustees powers are clearly stated.
Submitted: 1 year ago.
Category: Estate Law
Expert:  RayAnswers replied 1 year ago.

Thanks for your question and good evening.

You may not have the right forms here.You can look at this one it is titled Revocable Living Trust and it has the right to revoke it, etc that you seek.You can preview this one for free and compare it to what you have here.I am familiar with these forms and prefer them because they come with instructions and are reputable to deal with.

http://www.uslegalforms.com/us/US-00556.htm

 

The proper revocable language is found at bottom of page 2..



Click on the free preview to view it and make use of it.

It has been my pleasure to assist you tonight.Please let me know if you have more follow up.Thanks again.

 

I hope that you will be so kind as to leave a positive rating. If you do have any additional questions about my answer please click the "Continue Conversation Link" so I can provide you with a fully satisfactory answer. Please be aware that any rating of 1 or 2 is reflected as a negative rating and I receive no credit for my answers.

 

This communication does not establish an attorney client relationship here.Information provided is not legal advice. Rather it is simply general information.

Customer: replied 1 year ago.

I apologize for not been more clear but I am speaking of a trust already existing and not on how to really write a proper one. The document in question is titled the xxxxxx acres living trust and was created under the governing laws of Florida. The trust doesnt mention specifically the word revocable and neither irrevocable. But mentions Living trust at many occasions. The grantor is also one of the trustee and a beneficiary and as a grantor is to receive a monthly income from the trust. Trust allows for more property to be transfered into it. Under powers of the trustees, it says power to manage : sell, trade, exchange, grant, lease real and personal property. Then it states that the trust is governed by the laws of Florida. Would I be correct to assume that this trust is revocable?

Expert:  RayAnswers replied 1 year ago.

Sorry for the confusion.Yes a living trust here should be revocable.Unless it states that it is irrevocable then likely as a living trust it is revocable.

Here is reference to that issue in Florida.

http://www.floridabar.org/tfb/TFBConsum.nsf/0a92a6dc28e76ae58525700a005d0d53/29619132e623c5ac85256d44006868fc?OpenDocument

Customer: replied 1 year ago.

So If I understand clearly, in the event for whatever reasons this trust would be challenged in court, based on the small descriptions I did above regarding the trust, a court of law would consider it a revocable trust?


 


Thank You

Expert:  RayAnswers replied 1 year ago.

Understanding that I cannot see the trust here living trusts in Florida are considered revocable unless there is language otherwise.The court if challenged here would have the final say about whether it is in fact revocable if the language I referenced you is not set out within the document.Thats as definitive as I can be.If other beneficiaries disagree here you may have to seek a court ordered ruling that it is revocable.


I hope that you will be so kind as to leave a positive rating. If you do have any additional questions about my answer please click the "Continue Conversation Link" so I can provide you with a fully satisfactory answer. Please be aware that any rating of 1 or 2 is reflected as a negative rating and I receive no credit for my answers.

 

This communication does not establish an attorney client relationship here.Information provided is not legal advice. Rather it is simply general information.

Thanks again and good luck here with all of this.I appreciate the chance to help you .

RayAnswers, Attorney
Category: Estate Law
Satisfied Customers: 29676
Experience: Texas lawyer for 29 years in Estate law
RayAnswers and 6 other Estate Law Specialists are ready to help you
Expert:  RayAnswers replied 1 year ago.
Thanks so much for your recent trust question.If you have new ones in the future please post them for Ray and I will be happy to help.Thanks again for your business.

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