Q&A
Asked in Ely, Minnesota
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Oct 2024
Can one spouse place real estate, money, or other assets into a revocable trust labeled solely in their name without the other spouse allowing it?
My husband established a revocable trust, the qualifying beneficiaries were our grandchildren. The property includes the land and business property which was vested in that trust. To establish the trust and transfer the titles, he hired an attorney from Minnesota to help him. He has also deposited some monies in a bank account that I don’t have any control over. Was this legal? What recourse do I have?
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Q&A
Asked in Orange, California
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Oct 2024
Why is it that the creation of an irrevocable trust costs way higher than what it costs to establish a revocable trust?
The quotes I keep receiving for creating an irrevocable trust are rather unrealistic, especially compared with other types of trusts, such as revocable ones. Although I am aware that the key difference between these trusts is the language used and the ability to modify the trust, I need to know the main reasons for the additional fees that are charged for irrevocable trusts. What makes the extra expense legitimate?
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