You are here:

Trusts & Estates Law/illinois irrevocable trust dissalution

Advertisement


Question
if all beneficiaries (& trustee)sign simple statements to dissolve their private irrevocable trust, do they also need to appear in court?

Answer
Irrevocable means just that - it can't be revoked unless certain events occur - like the trust being a small amount.  

I'd say you need to read the trust language to see what is required.  The last thing you want is a court case.  I can review the trust or you can find someone locally if you are not comfortable with the language in it.

Regards,


David Disraeli

Trusts & Estates Law

All Answers


Answers by Expert:


Ask Experts

Volunteer


David Disraeli

Expertise

I can answer general questions about estate planning and trusts. I can also answer questions about estate tax reduction and advanced charitable giving, family partnerships and asset protection. I may have already answered your question here: www.lifeplanblog.com or here www.pcfo.net

Experience

I have worked for 24 years with clients and their attorneys to formulate estate plans to meet client goals. I have found many mistakes made by client attorneys and were able to have them corrected. I focus on making sure that beneficiaries are protected from current or future spouses and lawsuits so the wealth stays in the family. I have also published a book on Aging Parents which can be found on Amazon https://www.amazon.com/dp/B003VP9WTG

Organizations
President and founder of The Personal CFO Inc.

Publications
www.pcfo.net www.lifeplanblog.com

Education/Credentials
Certified Financial Planner 1994

©2016 About.com. All rights reserved.