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If you have a trust fund, you should be able to hire a lawyer, and I suggest you do. Even if the trust is not paying out at present, she may be able to collect on future payments. Especially if you have children in common.
Answer/ClarificationAny financial obligations you owe your ex-wife, such as child support or consideration for transfer of an interest in real estate, should be set forth in your separation agreement and court orders accompanying your divorce decree. Generally, as part of a divorce proceeding the parties execute a mutual general release agreement resolving all past and future claims and obligations between them.
You should review any documents provided by the court at the time of your divorce. If you don't have copies you can visit the court and request the file. You can obtain copies of the decree and agreement. You should also contact the attorney who represented you at the time of your divorce.
If you were not represented by an attorney at the time of your divorce and/or if you did not disclose your income from the trust, you need legal advice now. You should contact an attorney who specializes in divorce in your area who can review your situation and explain your options.
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Is a trust funded by life insurance policy after death of trustor?
A life insurance policy is an excellent way to fund a trust. Any way of placing necessary funds into the trust are acceptable. If you have cash and wish to fund it with cash this is fine. Life insurance is a good way to fund a trust because you can pay premiums and be assured that the money will be there when you die to fund a trust that you want to set up for someone.
Will a Engle Trust Fund check affect VA benefits?
The Engle Trust Fund was a reimbursement for the pain/suffering of people that smoked. This was treated just like and insurance where the money is not taxed or you have to declare anything to the government so it is treated separate from any of your income.
Your daughter was named beneficiary for her fathers life insurance the money was put in a trust fund until she turned 18 Upon reaching 18 will the money she receives be taxable?
No. Life insurance proceeds are not taxable. However, depending on the trust, the earnings, if any, while in the trust may well be.
What is fund utilization in banking system?
Fund utilization is when the use of funds is governed by the fund authority for the specified fund type, or in the case of trust funds for the specified account. Managers are responsible for understanding the restrictions on use for all fund types, and for any trust account utilized by the department.
What is a non revocable trust fund?
An irrevocable trust is one in which the settlor (or creator) of the trust does not retain any control of the trust, and thus the trust cannot be amended. The reason that an individual would chose to create an irrevocable rather than revocable trust is that the money cannot be touched by creditors or anyone else. There are also money-saving benefits to the creation of an irrevocable trust primarily relating to probate fees and taxes.
Can you leave a trust fund to someone if you haven't inherited it yet?
Unlikely. Any assets would revert back to the trust. It would depend on the trust wording.
A teacher deposited 3000 in a retirement fund If she didn't add any more money to the fund which earns an annual interest rate of 6 percent how much money would she have in 1 year?
A teacher deposited $3,000 in a retirement fund. If she didn't add any more money to the fund, which earns an annual interest rate of 6%, how much money would she have in 1 year
What specific expenses and what percentage of said expenses can be paid with child support money in Mississippi?
There are no expressed regulations in any states, so it will need to be addressed by way of a Trust Fund. see links below
Is the clothing allowance for the first lady from taxpayer?
No. The first lady does not get any clothing allowance from the taxpayers. There is a trust fund donated by a private estate that provide money for the first lady's expenses. (see the related link)
Can a trust fund be changed?
Yes, a trust can be modified or even revoked at any time under its terms. If it is a post mortem trust it can be modified by the trustees within the intent of the trust, provided it continues to benefit the same people.
How many presidents signed an IOU for borrowed SS money and never paid it back?
I am not sure what you want to know. Presidents can not borrow money from the US treasury, nor do they sign notes for such loans. The social security trust fund was begun in 1939. The money in the fund has always been "invested" entirely in US government bonds which means its full balance was always borrowed from by the government. SS does not really have any money , except the government IOU's in its fund. Of course, it is not the President, but the Congress which controls the money and if changes are to be made, Congress would have to pass the laws to make them.
When is a blind trust fund payable?
A "blind trust" is payable whenever the terms of the trust say it is payable. A "blind trust" has no features that are different than any other trust except for the fact that the beneficiaries are not allowed to see where the trust assets are invested or influence how they should be invested.
