the beneficiary in a trust is the person whom benefits from that which is held in trust.
An estate of a decedent is distributed per stirpes if each branch of the family is to receive an equal share of an estate
A trustee and a beneficiary are essential to a trust. Without a trustee and a beneficiary there is no valid trust. They should not be the same person.
yes
Say you have a wife and three grown children. The children are Joe, Sue, and Bob. You have a per stripes provision in your will. Bob has a daughter Jane. Bob dies. When you die, because you have the per stirpes provision in your will, Jane gets Bob's share. Since it is so easy to add two words to your will, there is no reason not to add them.
If the trust is a spendthrift trust, then no, the beneficiary probably cannot borrow against it. It is up to the lender.
Per stirpes is a method of distributing property or assets. In the context of life estates, per stirpes means that upon the death of the life estate holder, the property or assets will be passed down to their descendants in equal shares. If a descendant has already passed away, their share will be distributed to their own descendants. This method ensures that the property or assets are distributed among the descendants of the life estate holder.
Yes. A properly drafted trust shields the beneficiary from being personally liable for lawsuits involving the trust property.Yes. A properly drafted trust shields the beneficiary from being personally liable for lawsuits involving the trust property.Yes. A properly drafted trust shields the beneficiary from being personally liable for lawsuits involving the trust property.Yes. A properly drafted trust shields the beneficiary from being personally liable for lawsuits involving the trust property.
Not if the trust was properly drafted by a professional.
You need to review the provisions of the trust to determine if the trust allows a "beneficiary buy-out".
its a trust or a beneficiary.
You need to review the terms of the trust to determine how it must be managed. A well drafted trust will include a provision for an alternate beneficiary if the primary beneficiary dies or it will include a provision for the termination of the trust and distribution of any remaining trust property.