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The last answer I received said the trustee could terminate,

and let my kids have...
The last answer I received said the trustee could terminate, and let my kids have their inheritance before she dies, so if one of my kids call her and asks that would be great if she agreed, thats all they need to do? I keep asking, I just want to understand .
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Answered in 1 hour by:
3/12/2018
Loren
Loren, Attorney
Category: Estate Law
Satisfied Customers: 38,798
Experience: 30 years experience in the practice of estate law.
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Thank you for using JA. I am Loren, a licensed attorney for over 30 yrs., and I am here to help.

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Is the trustee the settlor of a revocable trust?

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Customer reply replied 4 months ago
I don't understand what your asking, what is a revocable trust, and how would I know?

If it is a revocable trust, and the terms of the trust do not provide otherwise, the trustee (who would presumably be the settlor of the trust) can simply transfer the trust assets back to themself, revoke the trust and make gifts however they want.

There are estate and gift tax considerations. So, they may want to consult an estate planner before making any changes, revocable trusts are called that for a reason.

If (and only if) you are completely satisfied that your question is answered professionally and accurately, even if not the answer you were hoping to get, please remember to leave a favorable rating (click 5 stars in the rating section on this page). It is the only way that I am credited by JustAnswer for answering your question.

There is no additional charge to you for rating me favorably.

Loren
Loren, Attorney
Category: Estate Law
Satisfied Customers: 38,798
Experience: 30 years experience in the practice of estate law.
Verified
Loren and 87 other Estate Law Specialists are ready to help you
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Customer reply replied 4 months ago
I feel like a dumb, dumb how do I know if it is a revocable trust?

It would likely say, but if the trustee is the same person as the one who established the trust then it is a revocable trust.

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