How could my aunt change the irrevocable trust set up by my grandfather?
Full Question:
My grandpa left me an irrevocable trust. How could my aunt change it? I received his part when my dad died but he left an identical one to be distributed upon the death of his wife. A few months before grandma died my aunt had it changed somehow. I got nothing. We are talking at least $500,000.00. I got $160,000.00 when dad died. It had been collecting interest for 10 years when grandma died, but then nothing. The man at the bank said it was recently changed. Is this possible? Please provide definition of irrevocable.
04/29/2007 |
Category: Trusts |
State: Wisconsin |
#3421
Answer:
Generally, an "irrevocable" trust is one which cannot be changed or amended, except pursuant to a court order, which is difficult to obtain. Assets can still be invested, can be sold and purchased, and payments made to a beneficiary or beneficiaries in accordance with the provisions of the trust. I suggest you consult with a local attorney who can review all the documents and facts involved.