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Author: hockeymomof3 Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 5741  
Subject: Re: trust question Date: 11/27/2007 12:44 PM
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who is the trustee?

Teri ... set up so on the demise of either myself or DH, the other becomes the trustee. If both, then another trustee has been selected, followed by the bank becoming the trustee. Regardless, the surviving spouse has access to the INCOME of the trust. It is the principal that is allocated to the irrevocable trust and remains held in trust for the kids. The trustee then makes the investment decisions as well as dispersing the trust funds to support the children's needs.

At least that is my understanding.....
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