How to use or fill out Part VI - REVOCABLE TRUSTS (ss 736 0601-736 0604)
- Click ‘Get Form’ to open it in the editor.
- Begin with Section 736.0601, which outlines the capacity required for the settlor. Ensure you understand that the same capacity needed to create a will is applicable here.
- Move to Section 736.0602, where you can indicate if the trust is revocable or irrevocable. If revocable, note how amendments can be made by one or more settlors.
- In Section 736.0603, clarify the powers of the settlor and any withdrawal rights. This section emphasizes that while the trust is revocable, duties are owed exclusively to the settlor.
- Finally, review Section 736.0604 regarding limitations on contesting the validity of a trust after the settlor's death. Make sure to note any deadlines for initiating such actions.
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