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How long can a trustee of a trust keep information from beneficiaries after the death of the owner of trust?
The trustee shouldn't keep any information from the beneficiaries. They should contact the trustee by a registered letter and ask to review a copy of the trust. Since they are the beneficiaries they have a right to review the trust to make certain the trustee is following the terms of the trust. They should also request an accounting of the trust assets. If the trustee doesn't cooperate the beneficiaries can seek a court order. Situations involving trusts can be very complicated. The beneficiaries should seek advice from an attorney who specializes in trusts and probate law.
Does the trustee of a irrevocable trust have to notify all family members of what is left in the trust?
The beneficiaries are entitled to an accounting to make sure the trustee is not wasting the trust assets.
Can an executor choose not to make a disbursement to an heir if they themselves are an heir and take a disbursement from the estate?
They must follow the distribution plan as provided in the will or by the law of the state. They cannot favor one beneficiary over another unless the beneficiaries agree. An executor is entitled to be compensated for their work, but they must have the approval of the court on the distribution.
Can you make changes in your beneficiaries in your own trust in California?
If it is revocable, yes. If not, no. Exception: if you retained a power of appointment in the trust agreement, you may be able to change the beneficiaries to anyone included in the class of people described in the power of appointment.
How can you create a trust deed that would take in an insurance policy having your children as beneficiaries?
Only in the Married Women Property Act policy, you need to make a trust and your wife and your children will be beneficiaries only. But you can not surrender or assign this policy to any one.
Can a trustee refuse to give disbursements to a beneficiary under a living person's trust?
No. The trustee only has the power granted in the document that created the trust. If the trust was drafted properly, there are provisions in the trust document for the removal of the trustee and for appointing a new trustee. If not, then the matter can be brought before a judge and the court can remove a trustee who is violating the terms of the trust.
Is there a simple way to to change a trustee of a land trust in KY if the land trust gives authority to the beneficiaries and I am the only beneficiary?
You must look to the trust document to determine how you make a change in the trustee. You must follow the provisions in the trust.
How do you make disbursement voucher in Excel?
See related links for an example of a disbursement voucher form in Excel format.
What is needed to prepare a living trust?
To prepare a living trust, you will need to gather information on your assets and decide who will be the beneficiaries and trustees. You will also need to draft a trust document that outlines the terms and conditions of the trust. Finally, the trust document must be signed and notarized to make it legally binding.
What is a disinterested trustee?
A disinterested trustee is an individual or entity that serves as a trustee without any personal interest or stake in the trust's assets or its beneficiaries. This impartiality is crucial for ensuring that the trustee can make unbiased decisions that are in the best interests of the beneficiaries. Disinterested trustees help mitigate conflicts of interest and enhance the trust's integrity and transparency. They are often appointed to manage trust assets fairly and according to the terms set forth in the trust document.
Can a trustee change the financial make up of the irrevocable generation skipping trust for the benefit of only one beneficiaries?
The trustee has only the power that is set forth in the trust document. You should review the trust document to determine if that specific power was granted to the trustee.
Is a revocable trust made in one marriage valid in a subsequent marriage?
A trust stands apart as an entity holding property and remains valid after a divorce. The trustee of a trust holds title to the trust property for the benefit of the beneficiaries named in the trust document. If a former spouse is named as a beneficiary the trust should be amended if the trustor wishes to make the present spouse a beneficiary instead.
