Posted 11 February 2009 - 12:02 PM
Posted 11 February 2009 - 12:13 PM
I'm curious what you have left if a rabbi trust is made revocable?
A regular trust places the fund off limits to the grantor and its creditors.
An "irrevocable" rabbi trust places the fund off limits to the grantor but not its creditors.
A "revocable" rabbi trust would place the fund off limits from neither the grantor nor its creditors. That sounds like just an account held in the name of the grantor, period. No trust about it.
One other note. In my state at least, you have to get court approval to change an irrevocable trust. You might want to check out the procedure in the state where the trust is located.[Edit in light of QDROphile's subsequent post: in my state, you have to show that the original purpose of the trust would be thwarted, but for the change that the petitioner seeks the court to approve--and as a practical matter, always the approval of any impacted beneficiary.]
Edited by J Simmons, 11 February 2009 - 01:49 PM.
Note to Readers: For you, I'm a stranger posting on a bulletin board. Posts here should not be given the same weight as personalized advice from a professional who knows or can learn all the facts of your situation.
Posted 11 February 2009 - 01:39 PM
Posted 14 February 2009 - 02:52 PM