Joint Revocable Trust: Gift on Creation?
Thursday, June 22nd, 2017 | Estate Planning, Tax, Trusts | No Comments
Not if the non-contributing spouse has the unilateral power to revoke:
Read More »Revocable Trust as Post-Nup?
Wednesday, May 24th, 2017 | Asset Protection, Estate Planning, Trusts | No Comments
Can a revocable trust created by one spouse after marriage constitute an enforceable postnuptial agreement for divorce purposes? This question arose in a recent case decided by the Tennessee Court of Appeals. The facts are as follows: Husband and Wife were married in 2006. It was a second marriage for both parties. In 2009, Husband established a revocable trust, naming himself as trustee and Wife as successor trustee. The revocable trust named Husband as current beneficiary and Wife and children as remainder beneficiaries of anything left in the trust at Husband’s death. Husband also executed a will that directed his probate assets to the revocable trust at death. Husband funded the revocable trust with at least four properties: (1) a lakehouse […]
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