== == Probably not. Maybe there is a reason someone else was named as trustee I think you can challenge it in court. If you can prove that the named beneficiary doesn't have the interest of child at heart. It is worth a try. The correct answer is NO. A life insurance policy is a contract and the contract will uphold in court. The only person who can change the benficiary is the owner or possibly the current trustee if they no longer wished to be trustee. <---Period!
As trustee that is their responsibility.As trustee that is their responsibility.As trustee that is their responsibility.As trustee that is their responsibility.
Yes. The trustee should be someone who is organized, intelligent, trustworthy and responsible.Yes. The trustee should be someone who is organized, intelligent, trustworthy and responsible.Yes. The trustee should be someone who is organized, intelligent, trustworthy and responsible.Yes. The trustee should be someone who is organized, intelligent, trustworthy and responsible.
Yes. You must report any additional income to the Trustee. If the Trustee or even worse, the US Trustee find out, they can press federal charges against you.
No to avoid estate tax penalty
trustee:)
Yes, someone with a CCJ (County Court Judgment) can still be a trustee. However, having a CCJ may impact their ability to manage finances and assets as a trustee, as it can indicate past financial issues. It is advisable to disclose the CCJ when applying to be a trustee and to consider how it may affect their suitability for the role.
In most cases the insurance reimbursement will have to be turned over to the BK trustee and included as non-exempt income. The best option is to contact the trustee for instructions on how to handle the situation and to be completely honest about the issue.
A delegate is a person who represents a whole party. A trustee is a person who is given legal ownership of something for someone else benefit.
That question is worded to lead me to assume that there is a trust in place. The answer then is No. Also assuming two parents, one dies and there is a child of the two. The trust is for the benefit of the child and the trustee must only utilize the money in the child's best interest. This is set up so the owner (prior) of the life insurance policy could see to it that the proceeds of said policy are used only in the child's best interest. For instance, perhaps the child's mother would buy a life policy on herself and the husband is a total bum and would drink and gamble the money away rather than sending his child to college so she would set up the trust in order that her wishes can be controlled beyond the grave. Perhaps her parent is the trustee for the child's money because she knows her Mom or Dad can be trusted but the Bum of a husband can not. 4lifeguild.com
yes
The possessive form of "trustee" is "trustee's." For example, "The trustee's decision was final."
There is no such thing as "Canada's school trustee." A school trustee is a politician, someone who has been elected to a school board. Not all provinces have school boards. In those that do, school boards are municipal or regional bodies, not provincial or federal ones.