Hi,
1) A irrevocable trust is a common trust instrument used for property purchase due to the nature of protection in the interest of the beneficiary.
2) It does not mean that this is cannot be changed though it is difficult. it can be changed/modify with the consent of the beneficiary, but instructions have to be from the trustee.
https://www.ellis-law.com/blog/how-to-dissolve-an-irrevocable-trust/
3) Irrevocable trust can also be dissolved or revoked in legal terms. However, this has to be executed by the trustee and consent from the beneficiary.
https://legalvision.com.au/how-do-i-dissolve-a-trust/
4) In Singapore, Trusts created on or after 15 December 2004 can continue for a maximum period of 100 years. Subject to this new statutory rule against perpetuities, the duration of a trust is otherwise determined:
According to the provisions in the trust deed
When all the trust assets have been distributed to the beneficiaries
When all the beneficiaries unanimously consent to the termination
https://www.guidemesingapore.com/business-guides/taxation-and-accounting/tax-and-wealth-planning/guide-to-setting-up-a-singapore-trust
5) There is no specific duration on how long a trustee is obligate to transfer to the beneficiary. The interest in the trust indeed belongs to the beneficiary. Any interest created from the trust is meant for the beneficiary only.
6) Generally trustee is not allowed to dispose of property held in the trust without the consent of the beneficiary especially when the beneficiary already reached their legal age. This shall also depend on how the trust is drafted.
Hope the above answer to your main concerns, but if there are more query, please feel free to contact me at
90110636
, or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.
Best regards
Ling CK
90110636
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer
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