Yes.
A will must be probated in order for it to be approved by the court and for the court to appoint an executor. If a trust is set up in a will (testamentary trust) then the court must officially appoint the trustee also. The executor and the trustee must follow the provisions in the will, the testamentary trust and the state probate laws under the supervision of the court.
Both the executor and the trustee must follow the provisions of the will and the trust set forth in the will exactly. They have no power to change anything. If they fail to act efficiently they should be reported to the court and replaced. They have no other power except that provided by the will and the court.
Yes, a trustee has a legal duty to follow the instructions outlined in the trust document. Failure to do so may result in legal consequences.
Trustees have a legal obligation to follow the terms of a trust as set out by the trust document and applicable laws. Failing to adhere to the trust's terms can result in legal consequences or removal from the position of trustee. It is important for trustees to act in the best interest of the beneficiaries and manage the trust responsibly.
Yes, you can change a trustee in a will by creating a new will that specifically designates a different individual or organization to serve as trustee. It's important to follow the legal procedures in your jurisdiction to ensure that the changes are valid and legally enforceable.
In general, once a trustee transfers their duties to a successor trustee, they no longer have the authority to take back those duties without the approval of the beneficiaries or a court order. It is important to follow the terms outlined in the trust document and seek legal advice if there is a dispute or question about trustee responsibilities.
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.
The possessive form of "trustee" is "trustee's." For example, "The trustee's decision was final."
The trustee must follow the provisions of the trust or the will in which the trust was set forth. If they refuse you should bring an action in the court of jurisdiction where a judge will issue a court order that the trustee must follow. If they still refuse then they will be in contempt of court and you could ask the court for sanctions.
Trustees have a legal obligation to follow the terms of a trust as set out by the trust document and applicable laws. Failing to adhere to the trust's terms can result in legal consequences or removal from the position of trustee. It is important for trustees to act in the best interest of the beneficiaries and manage the trust responsibly.
Yes, you can change a trustee in a will by creating a new will that specifically designates a different individual or organization to serve as trustee. It's important to follow the legal procedures in your jurisdiction to ensure that the changes are valid and legally enforceable.
The trust document should have a provision by which the trustee can transfer the property. You must follow the provisions in the trust for transfer by the trustee. Generally, in order to remove real property from a trust the trustee must execute a deed that conveys the property to a new owner.
No. Not unless that power was granted in the provisions of the trust. The only powers a trustee has are those specifically recited in the instrument that created the trust. Any changes not allowed by the provisions in the trust must be made by a court.
A trustee in a will can be changed by the person who created the will through an amendment called a codicil. Alternatively, the person can create a new will that specifies the new trustee. It is important to follow legal requirements to ensure the change is valid.
A trustee is a person or entity appointed to manage and administer a trust on behalf of the beneficiaries, while an agent is someone authorized to act on behalf of a trustee in specific circumstances. Trustees have a fiduciary duty to act in the best interests of the beneficiaries, while agents act on behalf of the trustee and must follow the trustee's instructions.
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Being a trustee of a will means that you are responsible for managing and distributing the assets of the estate according to the terms outlined in the will. Trustees have a legal obligation to act in the best interests of the beneficiaries and must follow the instructions outlined in the will faithfully.
You must look to the trust document to determine how you make a change in the trustee. You must follow the provisions in the trust.
What kind of "trustee?" "Trustee" for WHAT?
What is a life of Trustee.