My father set up a revocable trust. On his death, as directed by the trust, the "final distribution" of the balance in the trust was divided into separate trusts for each of his children. His entire estate did not meet the threshold for the estate tax at the time of his death. I am the trustee of my trust. My father's intention was to support education, health, and maintenance for his grandchildren, but I have "wide discretion as to the payment of income and principal" to myself or my children. The title of the trust document establishing my trust reads "Trust established for the benefit of <my name> pursuant to <my father's name> revocable trust dated <a date in 1990> as amended". My questions are 1) what type of trust is it - living, revocable / irrevocable, generation-skipping, some combination of these terms? 2) Is my father still the "grantor"? 3) Am I the "owner" of the trust? 4) Are my children beneficiaries along with me although they aren't listed in the FBO part? 5) If these questions can only be answered by language in the trust documents, what do I look for?
