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Can a successor trustee distribute part of the trust funds before all debts are settled?
Wiki User
∙ 13y ago
If you are referring to a testamentary trust the debts of the estate must be paid before the residuary can pass to the trust. You should consult an attorney. If you err you may be personally liable.
Wiki User
∙ 13y ago
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Can you lease a car in chapter 13 bankruptcy without getting permission from the trustee?
You will need permission from the trustee before doing anything financial while in chapter 13 bankruptcy. You will have already signed paperwork agreeing to full disclosure with your trustee when you filed.
Can you get some money before the estate is settled?
nah
How can you close a credit card that has a delinquent balance?
No, it has to be settled before you can close it.
Does a trustee need permission of beneficiaries to borrow money from the trust?
The trustee cannot borrow money from the trust unless that power is specifically included in the provisions of the trust. A trustee has only the power set forth in the document that created the trust. A trustee is subject to the state laws that govern fiduciaries. Self-dealing by a fiduciary is a serious offense that should be reported to the authorities. The beneficiaries should bring the matter before a judge and ask that the trustee be replaced and the funds restored immediately. Alternatively, if it is a friendly transaction the parties should consult with an attorney (preferably the attorney who drafted the trust) who can review the situation and draft the appropriate documents if the transaction can be allowed.
If you are currently under Chapter 13 and have been for about 2 years how long does it take before you can try to sell your house and purchase another one?
That's a decision that is made by the BK trustee. The participants of a chapter 13 bankruptcy must get the permission of the trustee for all major financial transactions.
Can a conservator take over a special needs trust?
No. The trust must be reviewed and a successor trustee appointed according to the terms set forth in the trust. If there are no provisions for appointment of a successor trustee mentioned in the trust document then the matter must be brought before a court of equity for appointment of a new trustee. The court that appointed the conservator should handle the trustee issue as well.No. The trust must be reviewed and a successor trustee appointed according to the terms set forth in the trust. If there are no provisions for appointment of a successor trustee mentioned in the trust document then the matter must be brought before a court of equity for appointment of a new trustee. The court that appointed the conservator should handle the trustee issue as well.No. The trust must be reviewed and a successor trustee appointed according to the terms set forth in the trust. If there are no provisions for appointment of a successor trustee mentioned in the trust document then the matter must be brought before a court of equity for appointment of a new trustee. The court that appointed the conservator should handle the trustee issue as well.No. The trust must be reviewed and a successor trustee appointed according to the terms set forth in the trust. If there are no provisions for appointment of a successor trustee mentioned in the trust document then the matter must be brought before a court of equity for appointment of a new trustee. The court that appointed the conservator should handle the trustee issue as well.
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.
Assuming that a Trust Maker has died when can a Successor Trustee close or dissolve a living trust?
A Successor Trustee can typically close or dissolve a living trust after the Trust Maker has passed away, all debts, taxes, and expenses have been paid, and the assets have been distributed to the beneficiaries according to the terms of the trust document. It is advisable for the Successor Trustee to consult with an attorney to ensure all legal requirements are met before proceeding with the closure of the trust.
The sole trustee died. How can the beneficiary obtain a transfer of the trust property to her own name?
You need to review the document that created the trust to determine how that transfer must be handled. There should be a provision that directs how to appoint a successor trustee. The property can be transferred by a successor trustee as long as the power to sell or transfer real estate is granted in the trust. If there is no such provision you need to take the matter before a judge in a court of equity. You should contact an attorney who specializes in real estate law who can review the trust and explain your options.
Is district before or after distribute in ABC order?
Distribute, then District
Is an estate administrator paid after the estate is settled or can they collect before it is settled?
They can collect before it is settled
Do the surviving two trustees need to appoint a new third trustee when one trustee has died and they don't agree and can the beneficiaries force them to appoint a third trustee?
You need to review the document that created the trust. It should contain instructions regarding the appointment of successor trustees. The trustees and beneficiaries may only exercise the powers set forth in the trust document. If this issue is not addressed in the trust document then perhaps the trustees can draft an amendment that would allow the appointment of a successor trustee. Of course, the power for the trustees to amend the trust would have to be recited in the trust document. If the trust document is poorly drafted and does not contain the answers then the matter may need to be brought before a court of jurisdiction. You should seek the advice of an attorney who specializes in trust law to help solve your dilemma.
Which colony was settled by Sweden before it was settled by England?
Deleware
Can a trustee refuse to give disbursements to a beneficiary under a living person's trust?
A trustee must follow the terms of the trust as outlined in the legal document. If the trust document allows for discretion regarding disbursements, a trustee may have the authority to refuse to make a disbursement to a beneficiary. However, the trustee must act in good faith and in the best interests of the beneficiaries.
Executrix of estate account dies and is only one who has signature rights What can be done to close account?
If the executor dies before the estate is settled then a successor must be appointed by the court. Another person must notify the court of the death and ask to be appointed.
When was San Antonio first settled?
it was first settled 16 yrs. before Jamestonw
Was Catal Huyuk founded before or after Ur was settled?
before
