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What else can I help you with?
Are child and spousal support paid after you die?
Because spouse/child support is paid out of your income, it would cease on your death. However, if there were insurance policies, wills, trusts, etc. set up before death, they would be taken care of by your efforts.
What is grantor?
what is the responsibility of a grantor, putting up security example car if the person that has taken out the loan has not paid the loan off in full what is the responsibility of a guarantor
Is the power of attorney entitled to a percentage of the estate?
A power of attorney has absolutely nothing to do with an estate. All power of attorneys expire on the death of the grantor.
What is a pure trust fund?
Trusts are contractually created organizations designed to protect assets both during and after the life of a person or persons known as the trust grantor (sometimes called settlor).The main purpose of some asset protection trusts is to avoid public probate of a person's assets through a will which can often lead to court battles and hard feelings by the beneficiaries who wrangle over who gets "the best stuff" or the larger share. The terms of a trust, unlike a will, need never be made public, and the beneficiaries need never be told by the trustee what others may or may not have received.A trust may be set up by the grantor during his/her lifetime, or it may be created after his/her death in accordance to the terms of a will. The will itself may be generic, such as "all real estate, personal property, stock and other assets to be placed in trust with so-and-so as trustee to be distributed to beneficiaries in accordance to the Letter of Instructions held by my attorney." Although the will itself will be read to the decedent's survivors and administered by the probate court, the Letter of Instructions would be seen only by the trustee of the trust.Though there are dozens of kinds of trusts to suit various purposes, they come in only two types: revocable and irrevocable.A pure trust is an irrevocable trust set up by a grantor who cannot be a beneficiary of the trust and usually is also not the trustee. A pure trust, unlike a living trust, survives the grantor and may be:perpetual like Joseph Kennedy's (earnings paid out to descendants but principal left untouched)time-limited like Benjamin Franklin's (3/4 was distributed after 100 years and the balance at the end of 200 years) or a spendthrift trust which is terminated on the death of a specific beneficiary.generational, e.g., until the last grandchild diesTaxation:Most other forms of trusts are revocable by the grantor and therefore assets within the trust are considered personal assets of the grantor, so earnings within the trust are taxable to the grantor unless the trust is specifically for an approved nontaxable purpose, e.g., a charitable foundation or an education trust fund to pay college expenses of one's children, grandchildren or other relatives. The tax ID of the trust is the Social Security Number of the Grantor. If the trust has employees, it may also have an Employer Identification Number (EIN) for payroll tax purposes.Assets placed into a pure trust, on the other hand, no longer belong to the grantor who has no control over the assets. Earnings are not taxable to the grantor, nor are they taxable to the trustee who is merely a fiduciary holding the assets for the benefit of the beneficiaries. The assets become taxable to the beneficiaries only when they are distributed to them. Therefore, no estate taxes diminish the assets, and assets in the trust can grow tax-deferred until a taxable event occurs, often long after the grantor is dead. Generally no tax ID is issued to the trust unless it has employees, then an EIN can be issued to the trustee for payroll tax purposes. The trustee(s) and outside consultants, such as attorneys and accountants, are not employees.For this reason the IRS disparages pure trusts and tries to convince people to avoid "pure trust scams." Courts, on the other hand, have consistently ruled in favor of pure trusts (if contractually sound). Benjamin Franklin's trusts were attacked a number of times over two centuries by descendents and government bureaucrats but were upheld by state and appeals courts every time.Hope this is what you were looking for.Joy and abundance,Cimarron Laynewww.https://www.sendoutcards.com/layneguests
What is a trust fund?
Trusts are contractually created organizations designed to protect assets both during and after the life of a person or persons known as the trust grantor (sometimes called settlor).The main purpose of some asset protection trusts is to avoid public probate of a person's assets through a will which can often lead to court battles and hard feelings by the beneficiaries who wrangle over who gets "the best stuff" or the larger share. The terms of a trust, unlike a will, need never be made public, and the beneficiaries need never be told by the trustee what others may or may not have received.A trust may be set up by the grantor during his/her lifetime, or it may be created after his/her death in accordance to the terms of a will. The will itself may be generic, such as "all real estate, personal property, stock and other assets to be placed in trust with so-and-so as trustee to be distributed to beneficiaries in accordance to the Letter of Instructions held by my attorney." Although the will itself will be read to the decedent's survivors and administered by the probate court, the Letter of Instructions would be seen only by the trustee of the trust.Though there are dozens of kinds of trusts to suit various purposes, they come in only two types: revocable and irrevocable.A pure trust is an irrevocable trust set up by a grantor who cannot be a beneficiary of the trust and usually is also not the trustee. A pure trust, unlike a living trust, survives the grantor and may be:perpetual like Joseph Kennedy's (earnings paid out to descendants but principal left untouched)time-limited like Benjamin Franklin's (3/4 was distributed after 100 years and the balance at the end of 200 years) or a spendthrift trust which is terminated on the death of a specific beneficiary.generational, e.g., until the last grandchild diesTaxation:Most other forms of trusts are revocable by the grantor and therefore assets within the trust are considered personal assets of the grantor, so earnings within the trust are taxable to the grantor unless the trust is specifically for an approved nontaxable purpose, e.g., a charitable foundation or an education trust fund to pay college expenses of one's children, grandchildren or other relatives. The tax ID of the trust is the Social Security Number of the Grantor. If the trust has employees, it may also have an Employer Identification Number (EIN) for payroll tax purposes.Assets placed into a pure trust, on the other hand, no longer belong to the grantor who has no control over the assets. Earnings are not taxable to the grantor, nor are they taxable to the trustee who is merely a fiduciary holding the assets for the benefit of the beneficiaries. The assets become taxable to the beneficiaries only when they are distributed to them. Therefore, no estate taxes diminish the assets, and assets in the trust can grow tax-deferred until a taxable event occurs, often long after the grantor is dead. Generally no tax ID is issued to the trust unless it has employees, then an EIN can be issued to the trustee for payroll tax purposes. The trustee(s) and outside consultants, such as attorneys and Accountants, are not employees.For this reason the IRS disparages pure trusts and tries to convince people to avoid "pure trust scams." Courts, on the other hand, have consistently ruled in favor of pure trusts (if contractually sound). Benjamin Franklin's trusts were attacked a number of times over two centuries by descendents and government bureaucrats but were upheld by state and appeals courts every time.Hope this is what you were looking for.Joy and abundance,Cimarron Laynewww.https://www.sendoutcards.com/layneguests
What is a pure trust?
Trusts are contractually created organizations designed to protect assets both during and after the life of a person or persons known as the trust grantor (sometimes called settlor).The main purpose of some asset protection trusts is to avoid public probate of a person's assets through a will which can often lead to court battles and hard feelings by the beneficiaries who wrangle over who gets "the best stuff" or the larger share. The terms of a trust, unlike a will, need never be made public, and the beneficiaries need never be told by the trustee what others may or may not have received.A trust may be set up by the grantor during his/her lifetime, or it may be created after his/her death in accordance to the terms of a will. The will itself may be generic, such as "all real estate, personal property, stock and other assets to be placed in trust with so-and-so as trustee to be distributed to beneficiaries in accordance to the Letter of Instructions held by my attorney." Although the will itself will be read to the decedent's survivors and administered by the probate court, the Letter of Instructions would be seen only by the trustee of the trust.Though there are dozens of kinds of trusts to suit various purposes, they come in only two types: revocable and irrevocable.A pure trust is an irrevocable trust set up by a grantor who cannot be a beneficiary of the trust and usually is also not the trustee. A pure trust, unlike a living trust, survives the grantor and may be:perpetual like Joseph Kennedy's (earnings paid out to descendants but principal left untouched)time-limited like Benjamin Franklin's (3/4 was distributed after 100 years and the balance at the end of 200 years) or a spendthrift trust which is terminated on the death of a specific beneficiary.generational, e.g., until the last grandchild diesTaxation:Most other forms of trusts are revocable by the grantor and therefore assets within the trust are considered personal assets of the grantor, so earnings within the trust are taxable to the grantor unless the trust is specifically for an approved nontaxable purpose, e.g., a charitable foundation or an education trust fund to pay college expenses of one's children, grandchildren or other relatives. The tax ID of the trust is the Social Security Number of the Grantor. If the trust has employees, it may also have an Employer Identification Number (EIN) for payroll tax purposes.Assets placed into a pure trust, on the other hand, no longer belong to the grantor who has no control over the assets. Earnings are not taxable to the grantor, nor are they taxable to the trustee who is merely a fiduciary holding the assets for the benefit of the beneficiaries. The assets become taxable to the beneficiaries only when they are distributed to them. Therefore, no estate taxes diminish the assets, and assets in the trust can grow tax-deferred until a taxable event occurs, often long after the grantor is dead. Generally no tax ID is issued to the trust unless it has employees, then an EIN can be issued to the trustee for payroll tax purposes. The trustee(s) and outside consultants, such as attorneys and Accountants, are not employees.For this reason the IRS disparages pure trusts and tries to convince people to avoid "pure trust scams." Courts, on the other hand, have consistently ruled in favor of pure trusts (if contractually sound). Benjamin Franklin's trusts were attacked a number of times over two centuries by descendents and government bureaucrats but were upheld by state and appeals courts every time.Hope this is what you were looking for.Joy and abundance,Cimarron Laynewww.https://www.sendoutcards.com/layneguests
What does without consideration mean?
Consideration is the value paid for property. Property acquired without consideration means there was no money paid to the grantor. That is frequently the case in inter-family transfers.
Can the Grantor change the Deed of Trust?
No, the Grantor cannot unilaterally change the Deed of Trust once it has been signed and executed. Any changes would require the consent of all parties involved, including the beneficiary and trustee named in the deed.
Does a person who signs a quit claim deed have right to the property?
Not necessarily, a quit claim deed just assigns all interest from one party to another. I can give you a quit claim deed to the Brooklyn Bridge, assigning you all of my interest in that property. The deed would be legal in that I am assigning all of my interest in the bridge, but you wouldn't have any more interest in the bridge AFTER receiving the deed than you did before, since I do not have any interest in the bridge. If there are other encumbrances against the property, a quit claim deed does not remove those encumbrances and in fact may result in the acceleration of a mortgage repayment, if a current mortgage exists against the property.A Quitclaim deed is often used when people want to change the wording on a deed or to enable the other party to sell the house without needing the signature of anyone else on the deed. I have seen them used to "clean up" the names on a title for the sale of a home or for refinancing. As stated above, the effects of a quitclaim do not eliminate the lien the bank has on the house if the house is not paid for. It does not remove or change the names on the mortgage and those people's responsibility to pay. Clarification:If the grantor on the quitclaim deed owns all the interest in the property in fee then YES you would acquire ownership of the property. If there were any liens and encumbrances you would acquire the land subject to them. In some parts of the country quitclaim deeds are often used to convey real property.
Are distributions from offshore trusts taxable?
First, most trusts are designed to avoid taxes from the get-go.Second, it would entirely depend on the amount and what the distribution was for.Third, and probably most importantly, Congress, accidentally (on purpose) let inheritance taxes expire. But, even if left as it was, only the very wealthy paid any inheritance taxes. However, that "slip up" will cost charities, billions.
Can a sibling force another sibling to turn over life insurance to pay for their parents funeral?
No, unless they are an executor of the estate and the parent had been paying the insurance premiums before their death.. Any person can insure anyone, it only means that a policy will be paid on death of the person they have insured and is paid to the person who paid the premiums or to their estate.
How long does it take to get paid if your the beneficiary of the guaranteed life insurance from Colonial Penn?
Most legitimate death claims are paid within 60 days of death, presuming you have supplied a legitimate death certificate.
