A Trust will continue to remain valid and enforceable if properly executed even if the Donor or Trustee change their state residence after execution.
Living Trust Questions
Answers to Frequently Asked Living Trust Questions
What is the Difference Between a Revocable and Irrevocable Living Trust?
An Irrevocable Trust is a type of trust that cannot be changed after the agreement has been signed.
What is the Current Estate Tax Exclusion for a Living Trust?
In determining the structure of a new Living Trust, the Estate Tax Exclusion is a consideration in choosing whether to create a Single, Joint or A/B Trust.
Should the Lender Be Involved if My Mortgaged Home is to be Transferred to My Living Trust?
The language that is included within the mortgage document is critical in evaluating what steps should be taken when transferring to a Living Trust any real estate that is still tied to a loan.
What is a Certificate of Trust?
A Certificate of Trust contains the “highlights” of the Trust document itself.
Does Standard Legal Offer an Irrevocable Trust?
The trust documents offered by Standard Legal are for Revocable Trusts, by choice.
How is a Living Trust Settled After the Death of the Makers?
The answer is simple: the Trustees named within the Trust documents simply follow the directives set forth in those documents.
How Do I Transfer Assets from my Deceased Parents’ Trust to Myself?
If a Living Trust document allows the property it holds to be distributed to the heirs following the death of the donors, the Trustee named in the Trust would simply execute a Quitclaim Deed transferring title of the property from the Trust to the beneficiary or beneficiaries named in the Trust.
Does a Living Trust Require a Federal Tax ID Number?
The answer to whether or not a Trust requires a Federal Tax ID number depends upon the type of Living Trust that is created.
If One Adult Child is to Live in the House I Split Between Two in a Will or Trust, Is a Rent Payment Required?
Upon the death of the Maker, the assets of a Will or Trust become the property of the named beneficiaries.