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Dimitry Esquire
Dimitry Esquire, Attorney
Category: Estate Law
Satisfied Customers: 41220
Experience:  JA Mentor. I run my own practice that specializes in Estate Preparation and Administration
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19 years with my husband married 15. We are getting a

Customer Question

Hi ,
19 years with my husband married 15 . We are getting a divorce He has 2 trusts one that is his parents estate at the time of there death.. the second one is a irrevocable trust fund that has been opened in 2008 one trust expert says that I'm not entitled to any of that money in trust fund is that true
Submitted: 1 year ago.
Category: Estate Law
Expert:  Dimitry Esquire replied 1 year ago.

Thank you for your question. Please permit to assist you with your concerns.

Generally speaking an irrevocable trust means that the trust is irreversible based on the conditions within that trust language. If that trust states that the assets are solely his or solely belong to the trust then you would not be entitled to any of those assets because anything in that trust is no longer marital in nature, or communal--think of a trust as a separate legal entity or person who now owns those items. If the trust owns them, neither you nor your husband own them, and you are therefore not entitled to the funds if the trust terms do not list you as a beneficiary. I am very sorry!

Sincerely,

Dimitry, Esq.

Customer: replied 1 year ago.
Can one person be the trustee and power of attorney over one trust
Expert:  Dimitry Esquire replied 1 year ago.

I am sorry, what do you mean by a 'power of attorney'? A trustee has the power and the ability to make decisions on behalf of the trust--there is no obligation or need to have a 'power of attorney' as that obligation is generally reserved for individuals.

Sincerely,

Dimitry, Esq.

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