How to modify or terminate an irrevocable trust
Article Abstract:
The IRS's Rev. Rul. 95-58, issued Sep 5, 1995, allows more flexibility in removing and replacing trustees of irrevocable trusts. Possible changes include choosing different situs or trustees, splitting or combining trusts, correcting errors, and allowing principal distribution. Trustees can amend irrevocable trusts if the trust terms grant such power. Courts will reform trusts under extreme circumstances. Beneficiaries can amend or terminate trusts with the settlor's consent.
Publication Name: Estate Planning
Subject: Law
ISSN: 0094-1794
Year: 1995
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New prop. regs. make it easier to name a trust as plan beneficiary
Article Abstract:
The IRS issued proposed regulations on Jan 29, 1997 which facilitate the use of trusts as beneficiaries of retirement plans. The regulations were issued under the minimum distribution rules of IRC section 401(a)(9). The regulations added liberalized provisions to two of four of the existing tests which must be met for trusts to qualify as plan beneficiaries.
Publication Name: Estate Planning
Subject: Law
ISSN: 0094-1794
Year: 1998
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No resulting trust in home maintained by same-sex couple
Article Abstract:
The article outlines a US 7th Circuit Court of Appeals decision that the survivor in a same-sex couple relationship did not prove that the decedent intended for her to half of a residence purchased and owned entirely by the decedent.
Publication Name: Estate Planning
Subject: Law
ISSN: 0094-1794
Year: 2001
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