Wills and Living Wills

questions & answers

Question: I want to change the executor on my revocable trust. I want the new executor to inherit some property and money. My question is: can an executor inherit? Thank you for your attention to this.

Answer: A trust is a contract between yourself as the Trustmaker/Grantor/Settlor/Trustor and yourself (typically) as Trustee (the person that manages the trust). You can change or revoke the trust at any time that you have capacity. You can specify who determines your disability. You can set out the terms of the trust to handle distribution while you are alive and well, alive and disabled, and not alive. The trust handles both disability and providing for your beneficiaries. You can set the terms for how and when your beneficiaries receive assets from the trust. If the beneficiary has disabilities, a special needs trust may be appropriate. You may want to consult with a Wills and trust attorney to discuss your wishes and who inherits what from the trust.