Assertion: trust | /r/HasProperty | revocable
Facets:
value: except in california
type: OTHER
value: commonly
type: DEGREE
Source sentences:
text: A trust may be revocable or irrevocable; in the United States, a trust is presumed to be irrevocable unless the instrument or will creating it states it is revocable, except in California, Oklahoma and Texas, in which trusts are presumed to be revocable until the instrument or will creating them states they are irrevocable.
text: All trusts are either revocable–living trusts, that can be changed by the grantor if need be, or
text: These trusts are commonly known as inter vivos or revocable living trusts.
text: A trust may be revocable or irrevocable; in the United States, a trust is presumed to be irrevocable unless the instrument or will creating it states it is revocable, except in California, Oklahoma and Texas, in which trusts are presumed to be revocable until the instrument or will creating them states they are irrevocable.
text: A trust may be either revocable or irrevocable.
text: Given the flexibility of revocable or living trusts in contrast with the rigidity of an irrevocable trust, it seems all trusts should be revocable.
text: In addition, a trust will either be revocable or irrevocable.
text: With a living trust, however, your handpicked successor trustee can manage your affairs without court intervention, and since the trust is revocable, if you dispute your incapacity, you can retain control yourself.
text: Inter vivos trusts that are revocable have more flexibility than those that are deemed irrevocable, but both types of living trusts bypass the probate process once the trust owner passes away.
text: Such a trust can be revocable or irrevocable.
text: Unlike under older common law rules, the Uniform Trust Code presumes that all trusts are revocable unless the terms of the trust specifically state otherwise.
text: Trusts can be revocable or irrevocable, and they can also be living or testementary (based on a will).
text: So, why doesn’t everybody set up a trust that is revocable as opposed to an irrevocable trust?
text: State law and the trust instrument establish whether a trust is revocable or irrevocable.
text: All trusts are either revocable or irrevocable.
text: The trust is revocable; therefore, you can revoke it and reclaim the assets.
text: The fact that the trust is revocable and can be changed at any time