if once a trust can it just be terminated
2006-07-20 02:23:43 · 5 answers · asked by skims 1 in Business & Finance ➔ Personal Finance
yes the beneficiary can be changed
2006-07-20 02:28:18 · answer #1 · answered by chuck 1 · 0⤊ 0⤋
I had a Trust Fund set up for my daughter before she was 18. It had specifics about how much $ to disburse each month and so on. I was a single mom. ONCE she was an adult, I cancelled it.
2006-07-20 10:26:35 · answer #2 · answered by educated guess 5 · 0⤊ 0⤋
Any contract between two or more people has terms. for the contract to be carried, the terms must be met. for someone to put trust in your name, he must have left conditions and terms, if those terms are not met it becomes null and void, either verbal or written.
if it is verbal it can be reversed easily. if written, it stands as far as all conditions are met.
make sure the trust is legal.make sure that there are witnesses if the trust will be legal
2006-07-20 02:33:48 · answer #3 · answered by Nnamsco 3 · 0⤊ 0⤋
It depends upon what type of trust it is there are "revocable trusts" which can be changes and "irrevocable trusts." There are are also "Testamentary Trusts" which are formed when someone dies.
You need to find out what type of trust has been set up.
2006-07-20 02:29:48 · answer #4 · answered by ps2754 5 · 0⤊ 0⤋
if the one gave it to you have passed there is no way anyone can change it but if they are a live they can change it and give it to someone else.
2006-07-20 02:33:55 · answer #5 · answered by grayladygranny 3 · 0⤊ 0⤋