Form RS5127-T Designation of Beneficiary Trust With Contingent Beneficiaries - New York

What Is Form RS5127-T?

This is a legal form that was released by the Office of the New York State Comptroller - a government authority operating within New York. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Form RS5127-T?
A: Form RS5127-T is a document used for the designation of beneficiary trust with contingent beneficiaries in New York.

Q: What is a beneficiary trust?
A: A beneficiary trust is a legal arrangement where assets or property are held and managed by a trustee for the benefit of one or more beneficiaries.

Q: Who can use Form RS5127-T?
A: Form RS5127-T can be used by individuals or entities in New York who want to designate a beneficiary trust with contingent beneficiaries.

Q: What information is needed on Form RS5127-T?
A: Form RS5127-T requires information about the grantor, trustee, primary beneficiaries, contingent beneficiaries, and the assets to be held in the trust.

Q: Is there a fee to file Form RS5127-T?
A: The filing fee for Form RS5127-T may vary. It is best to check with the relevant government agency for the current fee.

Q: Can I make changes to the beneficiary trust after filing Form RS5127-T?
A: Yes, changes to the beneficiary trust can be made after filing Form RS5127-T. However, it is important to follow the proper legal procedures for modifying the trust.

Q: Do I need a lawyer to complete Form RS5127-T?
A: While it is not required to have a lawyer to complete Form RS5127-T, it is recommended to seek legal advice, especially when dealing with complex trusts or substantial assets.

Q: Can I revoke or terminate a beneficiary trust?
A: In most cases, a beneficiary trust can be revoked or terminated by the grantor if certain legal requirements are met, but it is best to consult with a lawyer for guidance.