Does the state have access to a trust fund in prisoners name?
The state of California dept of Corrections DOES NOT have access to a prisoners trust fund. A trust fund is exempt.
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How do you file for divorce in California if your husband is in a California State Prison when your funds are low and you can't afford a lawyer?
Answer . Information pertaining to divorce process in the state and for a list of legal aid for people with limited resources can be found at California Court Self-Help, http://www.courtinfo.ca.gov/selfhelp. If you and your husband are in agreement (ie no disputes over children, posessions, debt…s, etc.) you will be way ahead of the game. If he also wants a divorce, the best way is for you to "petition" or "sue" him and hope he does not respond. This means you file for divorce through your family law office, and serve him with the required documents. Keep in mind that filing is not cheap. If you can, explain to him that the divorce will be granted by default as long as he does not file any paperwork in response (meaning that because your husband did not respond the divorce is automatically approved.) He will thusly also save paying the large filing fees. . If you have children and/or mutual posessions and you cannot agree who will get them the aforementioned process will not work. There are lots of resources to help, but it seems they never give you the whole picture at once so you'll have to keep returning with more questions. ( Full Answer )
Answer . Yes, and in some cases that is the only thing they create, as a mechanism for holding and distributing donations to other charitable causes.. YES. Trust should have a holder and a beneficiary. In this case, the non-profit corporation is the trustee. The beneficiary may be designated by …the corporation. ( Full Answer )
The method you use to withdraw money from a trust fund will bespelled out in the original documents from when the fund was setup. Unless you have complete control of the fund, you must followthe steps laid out in the paperwork. If you have complete control,you can fill out withdrawal documents and p…resent them to the bankthat is holding the fund. ( Full Answer )
Irrevocable Trust Funds . The short answer is NO, no way, no how, not a chance. The long answer is how long ago was the irrevocable trust fund set up? And did the person setting it up know a lawsuit was on the way? In other words, does it look to a judge that money was purposely put in an irrevoc…able trust fund in order to avoid garnishment? If it was set up 12 or more months ago, it's as safe as money can be. If the whole thing looks suspicious, a judge could garnish but this almost NEVER EVER happens. There is one other issue, is it child support that would be the garnish? If so, I think a judge might ignore the fact that it's irrevocable. The courts always put an innocent child first so if it's unpaid support, it could be at risk. I have a few different irrevocable funds left by my dad. I was able to change the trustee (the person in charge of distributing the $$ in the fund to me because I was a minor) on one of them but only because that person agreed to step down. He was in prison for the felony of embezzling money..... FROM ME, and I still needed him to step down. ( Full Answer )
There may be a reason you haven't disclosed why lawyers refused to help you. If you have a legitimate claim you should be able to go to your lawyer and sign a consent form so they can search for the money with the banks in the area. You could also check the probate records for your father, review …the file and see if the trust was identified in his will. ( Full Answer )
You will need the services of a financial adviser, an accountant or a solicitor. Be sure you get this professional advice so that the trust is set up as you need it to be. You can download a trust document from a legal services website, fill it out, and sign it in front of a notary. This immediate…ly establishes the trust's existence. A tax ID number will also have to be assigned from the IRS. ( Full Answer )
She never did have a trust fund. When her Father died, Conrad Hilton, he left most of it to the Catholic Church. Then Francesca's half Brother, Baron, contested the will and he got a large portion of the estate. Baron is Paris Hilton's Granddaddy. Paris does have a trust fund. Rumour has it, tha…t Zsa Zsa got all her money up front and lived like a Queen instead of letting Francesca get anything. Francesca later sued the estate and got a measly $100,000. Prince Frederic Von Anhalt is Zsa Zsa's husband and seems to be controlling every facet of Gabors life now that she is in her 90's. ( Full Answer )
Trusts are contractually created organizations designed to protect assets both during and after the life of a person or persons known as the trust grantor (sometimes called settlor). The main purpose of some asset protection trusts is to avoid public probate of a person's assets through a will wh…ich can often lead to court battles and hard feelings by the beneficiaries who wrangle over who gets "the best stuff" or the larger share. The terms of a trust, unlike a will, need never be made public, and the beneficiaries need never be told by the trustee what others may or may not have received. A trust may be set up by the grantor during his/her lifetime, or it may be created after his/her death in accordance to the terms of a will. The will itself may be generic, such as "all real estate, personal property, stock and other assets to be placed in trust with so-and-so as trustee to be distributed to beneficiaries in accordance to the Letter of Instructions held by my attorney." Although the will itself will be read to the decedent's survivors and administered by the probate court, the Letter of Instructions would be seen only by the trustee of the trust. Though there are dozens of kinds of trusts to suit various purposes, they come in only two types: revocable and irrevocable. A pure trust is an irrevocable trust set up by a grantor who cannot be a beneficiary of the trust and usually is also not the trustee. A pure trust, unlike a living trust, survives the grantor and may be: . perpetual like Joseph Kennedy's (earnings paid out to descendants but principal left untouched) . time-limited like Benjamin Franklin's (3/4 was distributed after 100 years and the balance at the end of 200 years) or a spendthrift trust which is terminated on the death of a specific beneficiary. . generational, e.g., until the last grandchild dies Taxation: Most other forms of trusts are revocable by the grantor and therefore assets within the trust are considered personal assets of the grantor, so earnings within the trust are taxable to the grantor unless the trust is specifically for an approved nontaxable purpose, e.g., a charitable foundation or an education trust fund to pay college expenses of one's children, grandchildren or other relatives. The tax ID of the trust is the Social Security Number of the Grantor. If the trust has employees, it may also have an Employer Identification Number (EIN) for payroll tax purposes. Assets placed into a pure trust , on the other hand, no longer belong to the grantor who has no control over the assets. Earnings are not taxable to the grantor, nor are they taxable to the trustee who is merely a fiduciary holding the assets for the benefit of the beneficiaries. The assets become taxable to the beneficiaries only when they are distributed to them. Therefore, no estate taxes diminish the assets, and assets in the trust can grow tax-deferred until a taxable event occurs, often long after the grantor is dead. Generally no tax ID is issued to the trust unless it has employees, then an EIN can be issued to the trustee for payroll tax purposes. The trustee(s) and outside consultants, such as attorneys and accountants, are not employees. For this reason the IRS disparages pure trusts and tries to convince people to avoid "pure trust scams." Courts, on the other hand, have consistently ruled in favor of pure trusts (if contractually sound). Benjamin Franklin's trusts were attacked a number of times over two centuries by descendents and government bureaucrats but were upheld by state and appeals courts every time. Hope this is what you were looking for. Joy and abundance, Cimarron Layne www.https://www.sendoutcards.com/layneguests ( Full Answer )
A unit trust fund is a type of fund used in financial law. This isa type of exchange-traded mutual fund with a definite livingunmanaged portfolio.
A "blind trust" is payable whenever the terms of the trust say it is payable. A "blind trust" has no features that are different than any other trust except for the fact that the beneficiaries are not allowed to see where the trust assets are invested or influence how they should be invested.
The comparison between public funding and privately funded prisons is public funded comes from your tax dollars that is voted on by your state legislature that allocates money for the running of state prisons. These funds pay corrections officers, administration, inmate health care, and food. The cu…rrent average for a U.S. inmate per day care is $52.00, that covers food, bunk, health care, dental, and have access to the most expensive law library money can buy. A privately run prison gives basic medical care when needed, and cost about $26.50 per day to operate, really their is no comparison. When an inmate hears they are being transferred to a private run prison they do everything in the world to stay, from writing letters to state officials, filing law suits, because they know the party is over, they are going to have to work and the diet will be once again basic, not like a public run institution where the food is prepared according to the inmates wishes. In California the Muslim inmates stopped all pork from being served, and vegetarians have only veggies on the menu, all through a law suit under "Prisoner Rights". If you are of voting age we should all vote to privatize prisons in all 50 states saving on the average 1.2 billion per year per state. ( Full Answer )
It depends on the type of trust and how it was set up. If it is irrevocable, it cannot be changed except by a court. The person that set the trust up may be able to make changes to it. In most cases the beneficiary will not be able to change it. In some trusts, there are clauses that allow for it to… be dissolved if the trust meets certain requirements, or the beneficiary reaches a certain age. ( Full Answer )
Generally no. A beneficiary's interest in a trust created by someone else would not be marital property. A grantor's interest in a trust that is revocable should be the same character as if the trust did not exist.
Property that will become trust property must be transferred by the legal owner to the trust. Bank accounts can be reopened in the name of the trust and its trustee. Real property must be transferred by deed from the the record owner to the trustee of the trust. Since a trustee is the agent with the… power to act for the trust, real property transfers should be made to the trustee. For example, a deed should recite the grantee in this form: Julia Roberts, as Trustee of the Pretty Woman Realty Trust dated \n3/23/1990. \n. \nSince the trustee will have full power to control the trust property it is essential to choose a trustee whom you have deemed to be completely "trustworthy". ( Full Answer )
Access Capital Funding is a small business owned by Courtney Krenz that has been identified as an illegal, 'Advance-Fee' Loan broker! They are no longer "doing-business-as" Access Capital Funding, they now operate under the name "Assist Business Now."
It depends on where the funds are invested. Banks have FDIC insurance up to certain levels. Otherwise, stocks, mutual funds and so on depend on the market value. You will always have the number of shares you started with. Wait it out and the value will come back--selling at a low price may be shorts…ighted. However, it is always your choice. ( Full Answer )
You contact an attorney who specializes in trust law in your jurisdiction. Trust law is one of the most complex areas of law. Many professionals, both attorneys and accountants, will offer to draft a trust. However, an improperly drafted trust will fail and have tax consequences and other consequenc…es. The results can be disastrous. You need to consult an attorney who specializes in trust law and who has a good reputation in your community. It is best to consult one from a firm that specializes in trust law with a long-standing practice. ( Full Answer )
If you derive income from a trust fund then you must declare that income on your tax return.
\n. \nwho wants to know i need some verifaction or a number i can contact you
State funding is when the state funds the political parties within the country. These can be allocated per vote or as a set amount.
Funds that are held in trust are under the complete control of the trustee. The provisions of the trust dictate how the trustee will manage those funds. You need to review the terms of the trust with the trustee and determine how and if the funds can be accessed. If the terms of the trust are insuff…icient or there is no provision under which the trust property can be accessed then a court of equity has the power to modify the trust. You may need to seek the advice of an attorney who is familiar with trust law in your state. ( Full Answer )
Yes, a trust can be modified or even revoked at any time under its terms. If it is a post mortem trust it can be modified by the trustees within the intent of the trust, provided it continues to benefit the same people.
Yes, college trusts were established for the children at the time of their birth. Kate consistently says she does it for the kids, so it would seem reasonable that if money has not been deposited in the Pennsylvania state funds, and alternative has been established.
An irrevocable trust is one in which the settlor (or creator) of the trust does not retain any control of the trust, and thus the trust cannot be amended. The reason that an individual would chose to create an irrevocable rather than revocable trust is that the money cannot be touched by creditors o…r anyone else. There are also money-saving benefits to the creation of an irrevocable trust primarily relating to probate fees and taxes. ( Full Answer )
It depends entirely on the terms of the trust. You should read the trust document (if there is one) or speak with the trustee.
Whether or not a trust can invest in mutual funds depends on the type of trust and the provisions in the trust document that discuss trustee powers.
This can vary based upon the conditions of the trust fund and the procedures of the lending agency. In general, for all but the most pressing of emergencies, such is a bad idea. Consult with the firm that manages the trust. They will have more specific information for you.
If the trust fund was established for you and left to you via a will, and you believe that the provisions of the will are being violated, you can appracoh the Probate Court and report the situation.
You cannot get access to a trust fund. A trust is managed by a trustee and the trustee is the only person with the authority to access the trust property. The trustee must manage the trust according to the provisions set forth in the trust document. If you are a beneficiary of the trust you should a…sk the trustee for a copy so that you can review the terms. ( Full Answer )
College Trust Fund The College Trust Fund 529 Plan is the most popular and successful type of trust fund for adults trying to have money for college .
I think you can do this by claiming back sovereignty and releasing your unlimited "pot" of trust credit. This can then be used to discharge notices, bills and other commercial requests and offers.
Jails and prisons are funded mostly by local, state, and federal taxes . If you work and pay taxes then you fund jails and prisons.
It depends on the state law, ranging from age 18-21. However, even an under-age person can always challenge it in court.
If a bank customer has an individual account and they die and their will states that funds pass to a trust can the executor close the account?
Yes, they can close the account. The money will then be placed as directed by the will.
The best way to get a trust fund for your child is to contact a professional. You'll need to consider what your goals are for the fund. These goals should be realistic and take into account what assets you have, your income, and what financial goals you have for yourself.
A child trust fund is a kind of long term savings or investment account in the UK. It was designed by the UK government to both teach children the value of saving and try to get each child to have some savings when they reach age 18.
You should seek professional financial adviser who can help you pick the right investments based on your individual risk profile. You would need to invest your funds in a tax deferred account in order to maximize returns.
I recently received a trust fund and found my mother had spent half the trust assets on her new house and put the other half in a mutal fund in her name what are my rights?
You need to consult with an attorney ASAP and sue your mother if she converted the trust property to her own use without the authority to do so. You need to consult with an attorney ASAP and sue your mother if she converted the trust property to her own use without the authority to do so. You need… to consult with an attorney ASAP and sue your mother if she converted the trust property to her own use without the authority to do so. You need to consult with an attorney ASAP and sue your mother if she converted the trust property to her own use without the authority to do so. ( Full Answer )
my brother is the is in charge of my parents irrevocable will of trust can he remove me
Yes, you could be prosecuted. It is a crime to breach the fiduciary duty of a trustee.
It is certainly possible to steal a trust fund. It is normally doneby the trustee and is a breach of fiduciary duty and could be afelony.
A trust fund is not considered a business. In various countries, however, income tax forms may be required each year. Also a trust manager must be paid on an agreed upon set of fees. Here we see that managing a trust fund is a business, but the fund itself is not.
Invest is a big issue. Where to invest is a big question for every one? Investing in US is not at all risky,but outside US needs a good research.Research is only way to find out where to invest and which source is beneficiary.
The only country currently offering a government child trust fund is the United Kingdom. The child trust fund is a long term savings or investment account for children.
Child trust fund accounts are used for parents looking for a long-term savings and investment account to use in your child's future. It is typically used by parents looking to save money over a period of time to afford to send their child to college.
Children's trust funds are a great idea for parents and grandparents to start because of government incentives. In Canada, if someone puts in money into their child's trust fund, the government will also put money in there as well, so the money keeps growing and growing over time.
Untouchable savings until a child turns a certain age is the purpose of a child trust fund. A child trust fund can be started by a parent or grandparent who maybe wants their child or grandchild to have money saved for a certain item. By putting the money in a child trust fund, and designating an …age, the child cannot touch that money until he/she reaches that age. ( Full Answer )
Yes, trust funds can run out of money; they can also last indefinitely, depending upon how they are managed and how they are set up. Nobel Prizes are paid for by a trust fund set up by Alfred Nobel; there is no expectation that the fund will run out and that the prizes will cease to be awarded. But …funds have to be invested, and investments can do well or badly. And even if the money in a trust fund was invested wisely, that money can still be spent. For example, trust funds are often used to safeguard money for the benefit of people who are not yet adults and who cannot be trusted to spend their money wisely while they are still minors. But once they become adults (or when they reach whatever age is specified by the terms of the trust fund) they then have access to that money and can spend it. And if they can spend it, they can use it up. Of course, you could also devise a fund that only pays the interest on the fund, and never pays out the principal. That kind of fund can potentially last a long time, but again, only if the investment decisions are wise. ( Full Answer )
Yes, Ryan O'Neal has a trust fund with inheritances of $ 300million but he might be worth more. Which means he doesn't need towork. His family is worth $ 4.4 billion fortune.
It depends on the type of prison. If it's a 'public' prison -they're paid by the government. In private prisons, they're paid byfunding gained from thor-party sponsors & donations.