Revocable Trust

[Rob]

Hi all-
I have been negligent in establishing a revocable trust. I am American, but a permanent resident in Singapore and semi-retired, and slowly working toward no work at all here.

Here is my question- How does one establish a revocable trust when living overseas, which in my case I think would be better than a will. I can complete the paperwork for a revocable trust from Suze Orman's website for a small amount of money, but do I need to be in the States or at least have an address in the states in order to do this? Also, does the revocable trust cover the bank account I have in Singapore?

Thank you.

Rob

 

[grumpy]

We recently had a revocable trust set up in Virginia where we live and own property. It is my understanding that the trust is written specifically to comply with the laws of Virginia. The attorney said that even if we were to then move out of state, that if the trust were to be challenged after our passing, that the laws of Virginia would apply.

Given that, I think you would need to find out what the laws are in Singapore regarding trusts.

 

[james7]

You will need a will/trust that complies with the law wherever you will be living. If that place is Singapore, I would see an attorney in Singapore to set up a will/trust. The last person on earth I would seek advice from about trusts is Suze Orman.

After one sets up a trust, it must be funded, that is the accounts you want to be a part of the trust must be titled in the name of the trust. So the bank accounts you have would have to be retitled in the name of the trust.