Yes, it is possible to change a trust after the person who created the trust (the "grantor" or "settlor") has passed away. The process for making changes to a trust after the grantor's death will depend on the terms of the trust and the laws of the state in which the trust was created.
If the trust has a provision that allows for changes to be made after the grantor's death, then the changes can be made in accordance with the procedures outlined in the trust document. This may involve obtaining the consent of the trust beneficiaries or obtaining court approval, depending on the specific terms of the trust.
If the trust does not have a provision allowing for changes to be made after the grantor's death, then it may still be possible to make changes to the trust if the trust is a "revocable" trust. A revocable trust can be amended or revoked by the grantor at any time during the grantor's lifetime. After the grantor's death, a revocable trust becomes irrevocable, meaning that it can no longer be amended or revoked. However, in some cases, it may be possible to seek court approval to make changes to an irrevocable trust if there are compelling circumstances that justify the changes.
It is important to note that the process for making changes to a trust after the grantor's death can be complex and may require the assistance of an attorney or other legal professional. If you are considering making changes to a trust after the grantor has passed away, it is advisable to consult with a qualified attorney to understand your options and the steps you will need to take
There are also many AB trusts out there that might need a change and often are not in the intended spirit of the person who created it and has now passed away. However, it is possible to make changes to an AB trust (also known as a "credit shelter trust" or "bypass trust") when one of the trustors (also known as the grantors or settlors) passes away. An AB trust is a type of trust that is commonly used to minimize estate taxes by allowing a certain amount of the deceased trustor's assets to pass to the surviving trustor without being subject to estate taxes.
If one of the trustors passes away, the surviving trustor may wish to make changes to the AB trust. This could include revising the distribution provisions to reflect the changing circumstances, appointing a new trustee, or adding or removing beneficiaries. In order to make these changes, the surviving trustor will typically need to follow the procedures set forth in the trust agreement or consult with an attorney.
It is important to note that making changes to an AB trust may have tax consequences and it is advisable to consult with a tax professional or an attorney before making any changes.
If you wish to dispute the terms of a trust, you may have several options available to you, depending on the specific circumstances of your case. Some potential options may include:
- Negotiating with the trustee: You may be able to work with the trustee of the trust to try to come to an agreement on any issues you have with the terms of the trust.
- Seeking mediation or arbitration: You may be able to use alternative dispute resolution methods, such as mediation or arbitration, to try to resolve any issues you have with the trust.
- Filing a lawsuit: If you are unable to resolve your issues with the trust through negotiation or alternative dispute resolution, you may be able to file a lawsuit to challenge the terms of the trust.
It is important to note that the specific steps you need to take to dispute the terms of a trust will depend on the laws of your state and the specific terms of the trust. It is generally a good idea to seek the advice of a qualified attorney to help you navigate this process.
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