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Settling a Revocable Trust After the Trustmaker Dies Form

Settling a Revocable Trust After the Trustmaker Dies Form

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Instructions and help about Settling A Revocable Trust After The Trustmaker Dies

one common question that trustees or trust beneficiaries may have is how long can trust remain open after death i'm daniel hunt a certified specialist in estate planning trust and probate law many factors can affect the length of time a trust can remain open after settler passes away but here's an overview [Music] in common law the rule against perpetuity states that nothing can last forever ing to this rule a trust can remain open up to 21 years after the death of the last person who was alive at the time the trust was made this rule is very vague and most trusts do not stay open as long as they potentially could under this rule against perpetuities the most popular type of trust is a revocable living trust and most of these trusts are closed within 6 to 12 months of the settler's death effectively completing a trust administration has two main advantages number one it preserves time and money if a trust administration lasts longer than a year the trustee must

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