At 9:24, I think you meant to say “irrevocable“ instead of “revocable.” If it’s revocable, and the settler has not died, I believe the settlor can freely revoke it. Correct me if I’m wrong, but I think the rule about all the beneficiaries being in existence and agreeing only pertains to revoking an IRrevocable trust while the settlor is still alive.
Hello! Thank you for the reminder. Yes, the rule is that if a trust is revocable, the settlor may terminate the trust at any time. If the trust is irrevocable, the settlor may terminate the trust if all beneficiaries are in existence, and all agree.
We also want to add that we do have NEW videos for these MEE topics. Here is Trusts: ruclips.net/video/dK8CocgD7ls/видео.html And here is Wills: ruclips.net/video/SzjNTZlKHJA/видео.html Hope you find these helpful :)
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At 9:24, I think you meant to say “irrevocable“ instead of “revocable.” If it’s revocable, and the settler has not died, I believe the settlor can freely revoke it. Correct me if I’m wrong, but I think the rule about all the beneficiaries being in existence and agreeing only pertains to revoking an IRrevocable trust while the settlor is still alive.
Thank you for your feedback! I will look into this!!
Was an answer figured out for this?
Hello! Thank you for the reminder. Yes, the rule is that if a trust is revocable, the settlor may terminate the trust at any time. If the trust is irrevocable, the settlor may terminate the trust if all beneficiaries are in existence, and all agree.
We also want to add that we do have NEW videos for these MEE topics. Here is Trusts: ruclips.net/video/dK8CocgD7ls/видео.html And here is Wills: ruclips.net/video/SzjNTZlKHJA/видео.html
Hope you find these helpful :)
@@JDAdvising Thanks for the reply.
Is this still the case in 2024?
Below the video is a link to the most recent version of all of our highly tested topic videos, but the content has not changed too much!