How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask RayAnswers Your Own Question
RayAnswers, Attorney
Category: Estate Law
Satisfied Customers: 42184
Experience:  Texas lawyer for 30 years in Estate law
Type Your Estate Law Question Here...
RayAnswers is online now
A new question is answered every 9 seconds

I have an irrevocable trust house to my only son which will turn over to him a

Customer Question

I have an irrevocable trust for my house to my only son which will turn over to him at 39 yrs old. Just want to change to 32 years old. Can I modify without courts for just age change? He is currently 23 and finishing college.
Submitted: 2 years ago.
Category: Estate Law
Expert:  RayAnswers replied 2 years ago.
Hi and welcome to JA. I Am Ray and will be the expert helping you today.
You would need to file a Petition to Modify Terms of the Trust with the court, stating in the petition the reasons the trust's terms are no longer viable and showing that the only sensible thing to do is to modify it and you have good reason here to do so.
Under the Uniform Trust Code which Connecticut has adopted, a noncharitable irrevocable trust may be modified with court approval “upon the consent of all beneficiaries if the court concludes that modification is not inconsistent with a material purpose of the trust.” The settlor, a beneficiary, or a trustee may initiate an action to modify an irrevocable trust.
You will need a lawyer to file the petition here and seek modification orders from the court.
I appreciate the chance to help you today.Please let me know if you have more follow up.Thanks again.
Expert:  RayAnswers replied 2 years ago.
You can locate a trust lawyer here.
New Haven County Bar Association LRS
New Haven, CT
Phone:(###) ###-####
Counties Served: New Haven, Waterbury, Valley and Shoreline areas
Meets ABA Standards for Lawyer Referral
Fairfield County LRS
Bridgeport, CT
Phone:(###) ###-####
Counties Served: Fairfield
Hartford County Bar Association LRS
Hartford, CT
Phone:(###) ###-####
Counties Served: Hartford, Litchfield, Middlesex, Tolland and Windham
New London County Bar Association LRS
Yantic, CT
Phone:(###) ###-####
Counties Served: New London
Thanks again.
Customer: replied 2 years ago.
I have approval from my son , the trustee and me, the Grantor..all we want to do is change age that trust ends and turn over to my son sooner at age 32 not 39.....rather have him receive earlier. .
What is cost to have lawyer petition the court?
Expert:  RayAnswers replied 2 years ago.
This would cost $1-$2k here , something in that range.It sounds like there is no disagreement so it shouldn't be that complicated here.
Thanks for the follow up.
Customer: replied 2 years ago.
So ..we just cannot give to my son at age 32 instead of 39?. Seems like if we all agree and sign that we agree..there should be no issue is just an age change.
Expert:  RayAnswers replied 2 years ago.
With an irrevocable trust here if everyone is in agreement the lawyer can draft the amendment and have everyone sign ti .If that is the situation court approval may not be necessary.This may lower the cost a bit I hope.
Thanks again.