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What else can I help you with?
What does a surviving spouse have to do to remove the other spouse from a trust?
You cannot be the surviving spouse of a trust. A trust is a legal arrangement set up to hold title to property. Any trust is managed by the provisions set forth in the document that created the trust. You need to review that document. If no one has a copy then you may need to get a court order to make changes.
Can the remaining spouse change beneficiaries in a revocable trust?
Yes, a remaining spouse can change beneficiaries in a revocable trust, as long as they are the trustee or have the authority to do so. Revocable trusts allow the grantor to modify the terms, including beneficiary designations, at any time during their lifetime. However, if the trust becomes irrevocable upon the death of one spouse, the remaining spouse's ability to change beneficiaries may be limited. It's essential to review the specific terms of the trust and consult with a legal professional for guidance.
What is wording for pour-over trust?
A pour-over trust is an estate planning tool designed to transfer assets into a trust upon the death of the grantor. The typical wording includes a statement that any assets not already placed in the trust during the grantor's lifetime will "pour over" into the trust upon their death, ensuring that the trust governs the distribution of those assets. This often accompanies a will that explicitly refers to the trust and outlines its terms. Such language ensures that all assets are managed according to the trust's provisions, simplifying the distribution process.
What is a trust successor?
A trust successor, often referred to as a successor trustee, is an individual or entity designated to manage and administer a trust after the original trustee is unable or unwilling to fulfill their duties, typically due to death, incapacity, or resignation. The successor trustee steps in to ensure that the trust's assets are managed according to the terms set forth in the trust document, distributing assets to beneficiaries and handling any related administrative tasks. This role is crucial for maintaining the continuity and integrity of the trust's intentions.
What happens when a home is sold that was put in a family trust?
When a home held in a family trust is sold, the sale proceeds are typically distributed according to the terms of the trust rather than being treated as personal assets of the beneficiaries. The trustee manages the transaction, ensuring that all legal and tax obligations are met. Additionally, the sale does not trigger capital gains taxes for the beneficiaries as long as the trust is structured properly. Ultimately, the trust continues to operate, holding any remaining assets or proceeds from the sale.
What is a Complex Non-Grantor Irrevocable Discretionary Trust?
In my experience, this would be considered, in layman's terms, a trust in which the grantor, when alive, created a discretionary trust, then the gantor died. Now, the trust is in the hands of the trustee appointed by the grantor, which makes it irrevocable. When the grantor was alive, it was revocable. Now, the complex part usually means that in any given tax period, the trust had distrubutions of principle of some sort. I hope this helps.
What is a Complex Non Grantor Irrevocable Discretionary Trust?
In my experience, this would be considered, in layman's terms, a trust in which the grantor, when alive, created a discretionary trust, then the gantor died. Now, the trust is in the hands of the trustee appointed by the grantor, which makes it irrevocable. When the grantor was alive, it was revocable. Now, the complex part usually means that in any given tax period, the trust had distrubutions of principle of some sort. I hope this helps.
Can a declaration of trust be revoked at any time?
A revocable trust can be revoked by its maker at any time. An irrevocable trust cannot be revoked.
Can a Michigan living trust can be terminated or changed at any time?
A Michigan living trust can be terminated or changed at any time. A trust owner can always go through the process of changing or terminating a trust at any time. Yes a Michigan living trust can be terminated or changed at any time. Provided the owner of the trust is still iving it can be changed with a simple form.
What was Saint Joseph's hobby?
I doubt if Joseph had any hobbies. In that time in history few people had much discretionary time for such things and had to devote their full time to work for support of a family.
Is there going to be a Spyro movie any time soon?
They made one, but it got cancelled.
Can a 10 year lease on a business property be cancelled by the tenant at any time?
That would depend on the terms of the lease.
Is WHSMITH a moshi code?
500 RoxWHSMITHSROX Note: Code on Moshi Monsters may be cancelled at any time.
What is the difference between committed and discretionary cost?
A committed cost is going to occur whether or not you have any output like rent.A discretionary cost is a variable cost like that of raw material.
Why was ginger cancelled?
Nickelodeon did ot make any specific reasons on why ''Ginger''was cancelled.
What is discretionary spending within a budget?
Money that can be used for any purpose
Does your insurance company legally have to give you a grace period after you are cancelled?
Insurance Grace PeriodNo, any grace period would have passed before the policy went to cancelled status. Once the policy is cancelled that means any grace period that may have been afforded will have expired. If you were still within any regulatory grace period then your policy will not be in cancelled status, it would be in cancellation pending status.They are not legally obligated, most carriers do give you a time to re-instate however
