That will depend on how the trust is written. In most cases the beneficiaries have no say in how the trust is distributed.
The trust gets divided into 100 equal parts and given to the beneficiaries.
No. The trust specifies what happens if the beneficiaries are no longer living. It could go to the beneficiaries' estates, or a remainder man, or to a charity. It is possible for the person who set up the trust to leave it to the trustee.
You need to review the trust document to determine whether the beneficiaries have that power and how it must be exercised.
You need to review the terms of the particular trust to determine how the beneficiaries are to be paid.You need to review the terms of the particular trust to determine how the beneficiaries are to be paid.You need to review the terms of the particular trust to determine how the beneficiaries are to be paid.You need to review the terms of the particular trust to determine how the beneficiaries are to be paid.
Unlimited.
Yes, changes can typically be made to beneficiaries in a revocable trust that was prepared by an attorney. You would need to work with the attorney who drafted the trust to amend the document and update the beneficiaries accordingly.
That depends entirely upon the terms of the trust itself. Most such trusts, if they are properly written, have provisions for what happens when a trustee or beneficiary dies. If this trust is for the benefit of several family members equally, then the trust most likely simply continues on for the benefit of the other beneficiaries. If the trust is for the spouse for his/her lifetime only, then it would most likely terminate with the money left over going to other named beneficiaries. Ther are too many other possiblities to go into all of them here. Suffice it to say that the answer lies in the trust itself. You need to read the terms and provisions in the trust document to determine what happens when one spouse dies.
No. In the case of a properly drafted trust the trust property is excluded from the estate of the beneficiaries and is not available to their creditors. That is one of the main purposes of a trust.No. In the case of a properly drafted trust the trust property is excluded from the estate of the beneficiaries and is not available to their creditors. That is one of the main purposes of a trust.No. In the case of a properly drafted trust the trust property is excluded from the estate of the beneficiaries and is not available to their creditors. That is one of the main purposes of a trust.No. In the case of a properly drafted trust the trust property is excluded from the estate of the beneficiaries and is not available to their creditors. That is one of the main purposes of a trust.
A "spray trust" or "sprinkle trust" is created when the settlor gives the trustee discretion to pay income out of the trust to any of the beneficiaries of the trust as their needs appear. Thus the trustee has discretion to "spray" the income among the various beneficiaries. The trustee has a fiduciary duty to inquire as the the beneficiaries finances to assure the trustee's standard of living can be maintained.
The trustee shouldn't keep any information from the beneficiaries. They should contact the trustee by a registered letter and ask to review a copy of the trust. Since they are the beneficiaries they have a right to review the trust to make certain the trustee is following the terms of the trust. They should also request an accounting of the trust assets. If the trustee doesn't cooperate the beneficiaries can seek a court order. Situations involving trusts can be very complicated. The beneficiaries should seek advice from an attorney who specializes in trusts and probate law.
Answer: Minors may be beneficiaries of a trust.
Should the beneficiary of an IRA be trust or the heirs