AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |
Back to Blog
Invalid giftlist exception12/18/2023 Trusts may be created by Will or other instrument effective-upon-death, by a declaration of trust by the owner of property that the property is intended as trust property, or by use of a power of appointment regarding a trustee (RCW 11.98.008).Washington Superior Courts have plenary powers with respect to trust matters (RCW 11.96A.020, 11.96A.040, 11.96A.60). Courts intervene in trust matters using their powers in equity.A revocable trust must expressly state that it is revocable in order to be so (RCW 11.103.030). A person requires testamentary capacity to create, amend, revoke, or add property to a revocable trust (RCW 11.103.020). Transfer of any assets to or from a trust does not affect their status as community or separate property (RCW 11.103.030(2)).Ī trustor may amend or revoke a revocable trust by compliance with the terms of revocation or amendment in the trust, or, if the trust does not require a particular method, then by written instrument (RCW 11.103.030(3).Ī trust is an extremely flexible legal document that dedicates property given to one person (the trustee) to be utilized for the benefit of another person (beneficiary). If a trust involves community property, the consent of both partners is required. Trusts are irrevocable, unless the trust instrument itself states the trust is revocable (RCW 11.103.030(1)). Statutory Details Concerning Trusts and TrusteesĪny person who has capacity to make a Will may create, amend, revoke, direct a trustee, or add property to a revocable trust (RCW 11.103.020).
0 Comments
Read More
Leave a Reply. |