Who has the right to see your living trust?
As California lawyer for 30 years, I often asked the following question.
For example, can someone who is eligible to receive a copy of my parents' trusted faith receive it before someone, or both, dies?
The answer depends on whether the credit is revocable or irrevocable.
If the trust is irrevocable, the answer is generally 'Yes'. An irrevocable trust is what it means and can not be changed or modified. However, there are some exceptions, for example, except when a trustee (a trust creator), a trust (a trustee performing a condition), and all profit obligations agree to a written change or amendment. In some cases court review and approval may be necessary.
Because there is a general rule that an irrevocable trust is "engraved into a stone", the law recognizes the beneficiary as having certain rights, including the right to receive a copy of the trust.
Conversely, revocable trusts may be revised or revoked by the person who created the trust (trustee), so the beneficiary will not be able to change the mind at a later time by one or more persons There is no guarantee not to exclude it as a beneficiary. Since their interest is not "voters", they do not have the right to receive a copy of the trust.
However, the revocable trust becomes irrevocable when the trustee dies. Only trustees (not "trustees") are authorized to change trusts that can be canceled. When the trustee dies, the trust is engraved on the stone.
You can no longer understand the trustee 's mental loss of ability, what the trust is, the assets owned by her or him (and the trust), or who the beneficiary is (or possible) If there is no longer a cancellable trust can become irrevocable. At this point, the beneficiary has the right to receive a copy of the trust, since the beneficiary can claim that the trustee's mental capacity decline will not be reversed and gradually worsen, the trust will be irrevocable and the beneficiary will receive a copy of the trust .
Rarely, this is an example of why a trust is not always "avoiding will tests" but more precisely not avoiding the testamentary court. A beneficiary wishing to see a trust can petition to the court for that right but may fulfill violent objections from trustees who feel that it is inappropriate to split the terms of the trust . The trustee insists that declining mental capacity of the consignor is not fundamental and future treatment and appropriate medication will improve his ability.
This allows both parties to present a professional testimony to the judge to convince the trustee's abilities (or lack thereof) and see how the lawsuit will occur. If the trust becomes irrevocable (either due to death or mental absence), the beneficiary wishing to see the trust can simply request the trustee in writing. If the trustee refuses, the court can file a petition that the judge will order the trustee to submit a complete copy of the trust.
The vast majority of cancellable living trusts are operated smoothly and do not require court intervention.
Whether you actually need trust or whether you need a lawyer to create it is a topic discussed on my Living Trust Advocate website. After reading the information provided on that site (and after studying), you may not need credit. Alternatively, you may decide to be one of millions of people who can benefit from getting simple living trust. However, you will find that the content of the site probably provides more information than private lawyers reveal (or know) to you.
EmoticonEmoticon