The following is my
answer to a Quora question: “Can a family trust, established by my
father, prior to his passing, be changed to name my mother as the grantor? This new trust significantly affects me and
my two daughters as part of the family trust.”
You have to consider the nature of the testamentary
trust, and whether the trust agreement is silent on the matter, or specifically
forbids it. Secondly, assuming the first
case, the trustees have to be agreeable to it. And, it cannot negatively affect the existing
beneficiaries. If the trustees agree,
then they need to amend the trust agreement. I cannot comment on the legal process since
this varies depending on where you are, so you may require an attorney.
No comments:
Post a Comment
Thank you for taking the time to share our thoughts. Once approved, your comments will be poster.