Legal Question in Wills and Trusts in California
At the end of a QPRT if you want the house to remain in trust for the benefit of the remaindermen, do you have to create a separate trust or can you add more provisions to the QPRT?
Also is the QPRT a separate trust from your living trust or are they together?
Asked on 9/21/10, 5:22 pm
1 Answer from Attorneys
Frankie Woo
Fiducia Legal
No, you cannot change the QPRT trust. It is irrevocable. You must read the trust to see what the terms are. Normally, the QPRT would say how many years the grantor retains the use of the house before it passes to the remaindermen. At the end of the period, the house technically belongs to the remaindermen, not the grantor.
The QPRT is a irrevocable trust while your living trust would normally be a revocable trust. They are not together.
Answered on 1/18/11, 7:55 pm
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