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Trust comes with time. It's only a foolish person who is drawn-in by a smile, loving words and promises. Take it slow and easy and get to know each other. Even the best of chameleons can't hide their true selves forever. Find someone that is fun to be with. Is good to you, keeps dates, gets along with your family and friends and is tentative to you, but not suffocating. Someone that likes to spend their weekends doing things with you. Takes you out to movies, clubs or simply spend some quiet time with you. If you find someone like that then take it slow and give that person a chance to prove their honesty.
Wiki User
∙ 16y ago
Wiki User
∙ 13y agoYou should choose a trustee who you know to be trustworthy.
If you are a beneficiary and had no part in choosing the trustee, you should ask for an inventory of the trust property and ask for an annual accounting of all the property that came into the trust during the year and all the property that went out. The trustee should provide an annual accounting for every year they serve. The trustee should be able to account for every cent that they handled. If the trustee will not co-operate you can bring an action in court to: 1) have the trustee ordered to provide an accounting; 2) have the trustee removed; and, 3) have a new trustee appointed by the court.
Many trustees are under the impression they can act in secret. However, they cannot. They serve in a fiduciary position and are subject to state laws that govern the action of fiduciaries. A trustee must follow the provisions of the trust to the letter. They have no other power than that recited in the trust document. They are accountable to the trustor and the beneficiaries for any mismanagement of the trust property.
If you think the trustee is mishandling the trust that benefits someone else you should speak up and have that trustee's actions reviewed by the proper authorities.
Again, it depends on what type of trust you are referring to. It is always a good idea to pick your Trustee carefully but realize that you can fire the Trustee in a heart beat if you are dissatisfied with his/her/its behavior
Randy Hughes
Wiki User
∙ 15y agoYou never can trust someone, they might turn their back on you out of nowhere.
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Is it possible to get a mortgage in the name of a irrevocable trust?
It depends on the lender. Generally, as long as the trust is valid and the borrower provides a copy of the trust, and an affidavit by the trustee that the trust is in effect and they are the current trustee, the mortgage can be executed. A properly drafted mortgage from a trust would be executed in the name of the trustee as trustee of the trust.It depends on the lender. Generally, as long as the trust is valid and the borrower provides a copy of the trust, and an affidavit by the trustee that the trust is in effect and they are the current trustee, the mortgage can be executed. A properly drafted mortgage from a trust would be executed in the name of the trustee as trustee of the trust.It depends on the lender. Generally, as long as the trust is valid and the borrower provides a copy of the trust, and an affidavit by the trustee that the trust is in effect and they are the current trustee, the mortgage can be executed. A properly drafted mortgage from a trust would be executed in the name of the trustee as trustee of the trust.It depends on the lender. Generally, as long as the trust is valid and the borrower provides a copy of the trust, and an affidavit by the trustee that the trust is in effect and they are the current trustee, the mortgage can be executed. A properly drafted mortgage from a trust would be executed in the name of the trustee as trustee of the trust.
Can a co trustee buy quit claim property from trust and transfer into own personal trust?
First, a trustee is the trustee of a TRUST. The house may be trust property. The powers of a trustee are set forth in the trust document. If the house is owned by the trust and the trustee has the power to sell real estate then yes, a trustee can convey the house.
Can there be a trustee and beneficiary to an irrevocable trust?
A trustee and a beneficiary are essential to a trust. Without a trustee and a beneficiary there is no valid trust. They should not be the same person.
Can the same person be both the beneficiary and the trustee of a blind trust?
No. The trustee has full control over the assets in the trust. In a 'blind trust' the trustee must be completely independent. If the beneficiary is the trustee then the trustee is not completely independent.
Can a name be added to living trust property?
No. The property in a trust is held in the name of the trustee of the trust. It may be possible to amend the trust to include another trustee. Such actions should be done by an attorney.No. The property in a trust is held in the name of the trustee of the trust. It may be possible to amend the trust to include another trustee. Such actions should be done by an attorney.No. The property in a trust is held in the name of the trustee of the trust. It may be possible to amend the trust to include another trustee. Such actions should be done by an attorney.No. The property in a trust is held in the name of the trustee of the trust. It may be possible to amend the trust to include another trustee. Such actions should be done by an attorney.
In a Trust what is the Trustee and Trustor?
The trustor is the person who executes the trust and transfers their property to the trustee. Since a trust cannot act for itself, the trustee is the entity named by the trustor to manage the property held by the trust. The trustee holds title to the trust property.
What are the responsibilities of an executor of a living trust?
A trust doesn't have an executor. It has a trustee. The trustee manages the trust according to the terms of the trust.
Can you sell land out of a revocable trust?
Yes, as long as the trust was properly drafted the trust property can be sold by the trustee of the trust.Yes, as long as the trust was properly drafted the trust property can be sold by the trustee of the trust.Yes, as long as the trust was properly drafted the trust property can be sold by the trustee of the trust.Yes, as long as the trust was properly drafted the trust property can be sold by the trustee of the trust.
Does a trustee get all the money in a trust?
No. The trustee has the power and authority to handle the money in the trust according to the terms set forth in the trust. The trustee must distribute the profits as provided in the trust and must distribute the remaining trust property when the trust terminates according to the provisions in the trust. The trust may also provide compensation for the trustee.
How do you remove a trust from a deed?
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.
When a trustor is established does a trustor have the ability to change the trustee in a deed of trust?
A trust is established by a Declaration of Trust. The trustee is the person appointed to hold title to and manage the trust property. The declaration contains all the powers of the trustee and the provisions of the trust. You must review it to determine if and how the trustee can be terminated and a new trustee appointed.
When a trustee dies does the beneficiary of the trust get notified of what is in the trust?
Not necessarily, another trustee will be appointed.
