Tangible Personal Property-A Call to Arms

[...]the grantor transferred the property to the trust before dying. [...]least likely, the grantor funded the trust with liquid assets, and the trustee used those funds to purchase the TPP. Because the assets went from one revocable trust to another, they won't need to be probated on the first...

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Bibliographic Details
Published in:Probate and Property 2018-09, Vol.32 (5), p.64-64
Main Author: Liss, Stephen
Format: Article
Language:English
Subjects:
Marital deductions
Personal property
Probate
Qualified Terminable Interest Property
Revocable trusts
State court decisions
Online Access:Get full text
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Summary:[...]the grantor transferred the property to the trust before dying. [...]least likely, the grantor funded the trust with liquid assets, and the trustee used those funds to purchase the TPP. Because the assets went from one revocable trust to another, they won't need to be probated on the first death, nor on the death of the surviving spouse.
ISSN:0164-0372
2163-0135