If the grantor of the revocable trust requires that the trustee continue to administer the trust after her death, the trustee continues to have an unconditional obligation to protect and control trust assets. However, the duty to protect trust assets only requires that the trustee act reasonably. ...
Similar to TOD deeds, if the grantee is disabled or on public benefits at the death of the grantor, a loss of public benefits could result. However, a trust could be named as grantee to solve this potential problem. If using power of attorney (POA) to sign an enhan...
known as a grantor, who may also act as the trustee himself. The trustee holds legal title to the trust property; he also has the responsibility to manage the property for the benefit of the grantor and the trust’s named beneficiaries. When a trustee is no longer willing...
For which of the following reasons would a grantor fund an inter vivos revocable trust? I. Shift income tax liability II. Reduce estate tax liability III. Reduce exposure to probate a. 1&2 b. 2&3 c. 1 What is a taxable benefit? As it would be shown...