There are all kinds of trusts and no single answer. Briefly: A revocable trust can be revoked by the maker (grantor or trustor) during their life. Most trusts automatically convert to an irrevocable...
A trust that cannot be revoked or amended by the party who establishes it. This type of trust is often established when life insurance is purchased to protect an estate. However, it is generally used...
Yes. There are two types of trusts, living (intervivos) and testamentary. The living trust is created by a living person(called the settlor or trustor). The testamentary trust is created by the will...
You need to review the language in the document that created the trust for your answer. ALL the provisions of a trust and the powers of the trustee must be set forth in the trust document. You would...