Can The Two Witnesses For The Trust Indenture Be Trustees
No. They must be non-parties to the trust in every way. They cannot be trustees, grantors, beneficiaries, successor trustees, etc.
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Can The Irrevocable Trust Indenture Be Modified
Yes, this is known as consent modification. 1) Get authorization from the grantor/creator + all beneficiaries + all trustees to make any and all changes to the trust indenture. When a minor or unborn person is a beneficiary, consent on the ...
Is It Required to Have 3 Trustees
While one can change the paperwork in the Trust Indenture to require only one trustee, the paperwork is designed to have three trustees for the following reasons: 1) If multiple trusts get called into court, due to their normal interactions in ...
If Trust Requires 3 Trustees - Can One Use The Same Trustees For All Trusts
Yes, one can use the same trustees for all trusts created. The legal reasoning behind having (3) trustees, is due to the fact that having 50% control or more of a trust as trustee can lead to undesirable results when defending a trust in court. ...
Can The Private Witnesses Be: Married To Each Other, Related to Participating Parties, Etc.
The two private witnesses may be married to each other or related to participating parties to the contract (grantor, trustees, beneficiaries, protector, successor, etc.). The private witnesses may not sign if they are a participating party to the ...
Is The Trust Indenture Subject To The Laws In The Grantor or Trustee's State
It is customary for the indenture to have its situs (e.g. location) in the grantor's state and thus be subject to those state laws; however, the trust is a private contract and thus the situs may be placed anywhere deemed worthy for reasons of ...