QUESTION
is there such thing as a wrap around trust? When someone dies and leaves a wrap around trust what happens?
Asked on Sep 26th, 2011 on Trusts and Estates - Alabama
1 ANSWER
Mediation (Family, Estate, Elder/Adult Care, Divorce) Attorney serving Tulsa, OK
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There are lots and lots of different kinds of Trusts. They are known by different titles or phrases depending on the states and lawyers involved.
Still, getting the name right or knowing the type of Trust doesn't really tell you much. You must see and understand the terms and instructions in the Trust itself.
If you are a beneficiary get a copy of the Trust. Then, to be absolutely sure you understand what it says, hire a Trust lawyer who will read and explain it to you.
To your success,
Gale Allison, Principal AttorneyThe Allison Firm, PLLChttp://www.theallisonfirm.comhttp://www.linkedin.com/in/GaleAllison
Answered on Nov 28th, 2011 at 9:20 AM