When creating a living trust, you must specify a trust administrator to oversee it until minors under 18 are old enough to receive theirinheritance. On the other hand, individuals under the age of 18 can be named to receive assets in wills directly. In addition, wills are usually easier and...
A successor trustee handles the trust’s affairs when the creator of a revocable trust dies. Trustees can administer the trust on their own, but may need the assistance of an estate or trust attorney. A revocable living trust becomes irrevocable once the grantor dies. It can take as long as...
Determine the exact name of your living trust by looking at the trust document. It is important to include the full name of the trust, which is usually located on the first page of the document. Some trusts include the date the trust was executed in the title. For example, the name of...
In Virginia, children have certain inheritance rights, especially when one of their parents dies with a will. Under Virginia’s intestacy laws, assuming there’s no surviving spouse, the deceased’s estate generally passes to any children they have. If there is a surviving spouse, their children...