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A living trust is a legal document that allows you to transfer your assets into a trust during your lifetime to benefit designated beneficiaries upon your death.
Yes, a living trust can be revoked or canceled at any time during your lifetime as long as you have the mental capacity to do so.
To revoke a living trust with a mortgage in Idaho, you need to start by reviewing the terms of your trust document and mortgage agreement. Then, consult with an attorney to guide you through the legal procedure for revocation.
Yes, you can revoke your living trust even if you have a mortgage on your property. However, the mortgage will still need to be paid even after revocation.
No, you do not need permission from your mortgage lender to revoke a living trust. However, it is always a good idea to inform them about the revocation to ensure they are aware of the changes in ownership.
Revoking a living trust with a mortgage does not directly impact your mortgage obligations. You will still be responsible for making mortgage payments and fulfilling the terms agreed upon in the mortgage agreement.
No, revoking a living trust does not require you to update your mortgage agreement. The terms and conditions of your mortgage agreement remain the same.
Yes, after revoking a previous living trust, you can create a new one. However, it is advisable to consult with an attorney to ensure all legal requirements are met.
If you pass away after revoking your living trust, your mortgage will remain in force. Your executor or personal representative will handle the mortgage as per your will or state laws.
Yes, you can include specific instructions regarding your mortgage within your living trust. This can help guide your beneficiaries on how to handle the mortgage after your passing.
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