The forum is Michigan. I'm just wondering if there is any set of facts that might allow it.
2006-10-15 17:51:48 · 5 answers · asked by Charles15589 2 in Politics & Government ➔ Law & Ethics
In a properly drafted irrevocable trust there is not going to be any basis. If the trust was acquired by fraud, etc. of course there is a contractual remedy.
Usually these are created for tax purposes so there is no reason anyone would want to do this.
2006-10-15 20:32:57 · answer #1 · answered by beckychr007 6 · 0⤊ 0⤋
I bet there isn't.
What's gone will be gone.
My advise would be to place your assets into a
"Revocable Living Trust" Get your attorney to draw one up,
it will save your children the expense of probating a will. Your property,insurance and other assets will go to the parties specified in the trust upon your death
and you can always take it back or change it if it is revocable.
from what I've learned--- A revocable/irrevocable living trust takes precedence over any 'Will"--written before or after the trust.
Good Luck,
2006-10-15 18:14:38 · answer #2 · answered by Moma 7 · 0⤊ 0⤋
READ THE DOCUMENTS THAT CREATED THE TRUST !! The only experience I ever had with a trust was 2 doctors owned a rent house that was in a trust. But they were the 2 sole executors having signature authority over the assets of the trust, so they could sell it whenever they wanted.
2006-10-15 18:01:53 · answer #3 · answered by snvffy 7 · 0⤊ 0⤋
Probably note, but Trusts create certain powers that may enable Trustee to do certain transactions using the property. But still worth having an Estate planning lawyer check it our...always loopholes. eg. Was the TRUST actuallt funded. GLuck
2006-10-15 17:55:19 · answer #4 · answered by meldorhan 4 · 0⤊ 0⤋
Revoke the trust if there is a valid reason and get back the property. Hoever, if there is no reason at all, the property can no longer be taken.
2006-10-15 18:06:55 · answer #5 · answered by FRAGINAL, JTM 7 · 0⤊ 0⤋