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Can the income beneficiaries be changed?

April 26, 2017beneficiaries changed income

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10 Posted

Can the income beneficiaries be changed?

1 Answer

0

10 Posted

An income beneficiary may not be added. However, when the trust is drafted, it may allow for a contingent beneficiary through a special provision. The contingent beneficiary may be removed only by the donor’s will and may not be replaced.