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Can a trust lend money to a beneficiary to buy a house even though the trust usually distributes income to the beneficiary at year end?
Wiki User
∙ 14y ago
You need to review the terms of the trust. The instrument that created the trust sets forth all the powers of the trustee. You need to determine if the trustee has the power to loan money from the funds held in trust.
Wiki User
∙ 14y ago
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Can you get a loan on your ssi?
You usually cannot get a loan on your SSI, though some payday loan companies may allow it. You can use it as your income source for the purpose of getting a loan.
Does the life insurance beneficiary get both the cash value and the face amount?
Not usually, though I can't say that it is impossible. Life insurance is not regulated like car and home so one particular company could promise you that. Generally the cash value is if the insured cashes in the policy and the face amount is paid to the beneficiary when the insured dies. I was a life insurance agent for 15 years.
Why cant you get a loan even though you have good credit?
Do you have other credit cards, loans, or other debt? Your debt to income ratio is also held accountable when they're looking at giving you a loan. Do they ask for you to provide income? If so, are you able to prove it? Usually that helps as well
Who sees your life insurance payout?
When a person gets a life insurance policy, they choose a beneficiary who will receive the moneys that are assured. The beneficiary only sees that money, though, if you die pursuant to the terms and conditions of the agreement (i.e. suicide typically does not lead to payout).
Where can you get a decent loan for 10k if you have 615 credit score but you have no income verification?
Try credit.com . It may be hard since you have no proof of income, though.
What is relationship between income to political power?
Though they shouldn't have a direct relationship, higher income usually means higher political power these days.
Can your wife receive your life insurance benefits even though she is not the beneficiary?
Ddoubt it. Why not make her the beneficiary? for more info see www.steveshorr.com/life.htm and www.steveshorr.com/estate.planning.htm
Do you need spousal consent to name another beneficiary on your IRA?
Yes, the beneficiary of an inherited IRA (AKA beneficiary IRA) can name a beneficiary to that account. In the past, this was not really allowed so some form may still practice as such.
If a Child as Beneficiary does the parent have to show birth certification?
No. It's generally not a good idea though to have a child as beneficiary. They can't collect until 18. Estate Planning
How long does it take to receive an income tax return?
It usually takes two to four weeks to receive your income tax return after your taxes have been filed. This can vary greatly though, depending on how you file.
What is considered affordable housing?
Technically, "affordable housing" is considered affordable to those with a median income level. Usually, though, the term refers to rental housing aimed at the lower income range of an area.
Who was the real beneficiary of holocaust?
There were no 'real' beneficiaries though obviously, there were short-term benefits for the Nazis.
If a person is named the beneficiary of a policy does the amount become part of the estate even though the beneficiary has the entire tax burden?
The proceeds are includable in insured's gross estate if the insured legally possessed and could legally exercise any incidents of ownership at the time of his death. It does not matter that decedent did not have possession of the policy and therefore was unable to exercise his ownership rights at the time of his death (Comm. v. Est. of Noel, 380 U.S. 678 (1965)), The beneficiary however does NOT pay Income Tax on the proceeds IRC Sec. 101(a)(1).
What happens when the person who has a lifetime estate abandons the property?
A property is not usually seen as being abandoned just because it seems as though it is and a life estate belongs to the beneficiary of it for the length of their life or until they decide to give it up legally
If the insured dies and the beneficiary dies a month later without collecting the money who does it go to the beneficiarys heirs or insured heirs?
In that case the benefit would be paid into the beneficiary's estate, though that doesn't necessarily mean their heirs will receive it. However, if there is a contingent (secondary) beneficiary they would receive the benefit.
Can you get a loan on your ssi?
You usually cannot get a loan on your SSI, though some payday loan companies may allow it. You can use it as your income source for the purpose of getting a loan.
What type of policy can a owner and beneficiary be the same?
In any life insurance policy, though there is provision for appointment of nominee, on maturity the proceeds will be payable to the policy holder if he/she is alive. By this way, the owner of the policy and the beneficiary is the same person.
