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You manage the property the same as if it was still in your name (sell or mortgage it,for example),and may acquire more property and add it to the trust Who we share your data with steveblisslaw com The one thing you can not do,however,is move a policy owned by an ILIT into your very own names.
Revocable living trusts stay in the control of the trustor during their entire life and can be canceled (revoked) at any time.
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So we pick life insurance coverage policy after setting up our ILIT? While disinheritance clauses can be placed into wills,upset member of the family may sue and challenge the will’s credibility steveblisslaw com 00 for the lawyer and $13,000.
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One alternative is for the dissatisfied co-trustee to merely to resign as co-trustee or,taking a more aggressive policy,petition the court to remove the other co-trustee South Park.
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