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Can a beneficiary get his share of the Trust before age 25 if the Trust says that his share will remain in the Trust until he is 25?
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In CA If a beneficiary dies after the original truster but before the final sale of the property does his share of the estate go to his surviving spouse or to his children?
You need to review the provisions of the trust to determine where the proceeds will go if a beneficiary is deceased. The provisions of the trust would govern.
What happens is a beneficiary die's but there are other beneificiaries before an estate is settled?
The beneficiary's share goes into their own estate.
How can you find out who is a beneficiary and the share entitled to in a living trust?
To find out who the beneficiaries are in a living trust and their entitled share, you would need to review the trust document, which typically lists the beneficiaries and their respective shares. You may also need to consult with the trustee, who is responsible for managing the trust and distributing assets to beneficiaries according to the terms of the trust. It is also recommended to seek legal advice if you have any questions or concerns regarding the beneficiaries and their entitled shares in a living trust.
What happens when one of a group of beneficiary dies before the property is settled?
Their share goes into their estate.
What happens to the per stripes share of a beneficiary in a trust who never had children but was survived by his wife?
That person's share (who died without issue) would go to his parents first, or to his siblings next, or to his siblings' children.
What type of tax is levied on the beneficiary share of an estate?
The type of tax that is levied on the beneficiary share of an estate is known as inheritance tax. This will be assessed based on the legacies the beneficiary receives.
If a trustee who is also one of 7 other beneficiaries of the trust dies before any trust assets are distributed what happens to the part of the trust that was to go to the trustee this is in Calif?
You need to review the trust document for the answer to your question. It should contain a provision for distribution of the share of a deceased beneficiary. If the trustee has died a new trustee needs to be appointed to make the distribution. The trust document should also have provisions for the appointment of a successor trustee.
Can an exeutor of a trust legally take more than their share as it reads in trust?
No, an executor of a trust is legally obligated to distribute the assets according to the terms specified in the trust document. Taking more than their entitled share would be a breach of their fiduciary duty and could lead to legal consequences.
What is considered bankruptcy exempt property If you are a trustee of a realty trust is that property considered your asset?
There is a difference between something that is your asset and something that is not. Exemptions only apply to assets.Whether the realty trust is your asset depends on the trust instrument and your state law. In most cases, if the property was yours and you put it into a realty trust, and you are the trustee and the beneficiary of the trust, there is no legal trust, merely the form of a trust.If it is a true trust, then the question becomes, are you a/the beneficiary and what is your share of the value of the trust? That is an asset.If it is a true trust but it is a revocable trust so that you get the trust property on revocation, that will probably be an asset to you also.This is a complex area of law, and you really need to have an experienced trust/bankruptcy lawyer look everything over.
What type of tax levied on the beneficiary share of an estate?
inheritance
What type of tax is levied on the beneficiary's share of an estate?
inheritance
Can a beneficiary to property remove their name?
A beneficiary does not have to accept an inheritance. Their share or that item will go back to the estate to be distributed in another manor.
