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How does a successor trustee distribute the trustors personal belongings?
Wiki User
∙ 9y ago
A successor trustee will distribute the trustor's personal belongings as dictated by the will and testament. This means that the successor trustee is bound by the same legal obligations as the original trustee.
Wiki User
∙ 9y ago
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Is trustors a noun?
Yes. It is mostly used as a legal term, meaning people who handles a trust.
What are some eight letter words with 1st letter T and 3rd letter U and 6th letter O?
According to SOWPODS (the combination of Scrabble dictionaries used around the world) there are 3 words with the pattern T-U--O--. That is, eight letter words with 1st letter T and 3rd letter U and 6th letter O. In alphabetical order, they are: trueborn truelove trustors
What are some eight letter words with 1st letter T and 2nd letter R and 5th letter T and 6th letter O?
According to SOWPODS (the combination of Scrabble dictionaries used around the world) there are 6 words with the pattern TR--TO--. That is, eight letter words with 1st letter T and 2nd letter R and 5th letter T and 6th letter O. In alphabetical order, they are: tractors traitors treetops triptote trottoir trustors
What are some eight letter words with 1st letter T and 3rd letter U and 4th letter S and 7th letter R?
According to SOWPODS (the combination of Scrabble dictionaries used around the world) there are 3 words with the pattern T-US--R-. That is, eight letter words with 1st letter T and 3rd letter U and 4th letter S and 7th letter R. In alphabetical order, they are: trussers trusters trustors
What is the role of the trustee after person dies?
The role of the trustee after the death of the trustor must be set forth in the provisions of the trust document. Generally, the provisions provide that the remaining trust assets be distributed to the beneficiaries and the trust terminated. On the other hand, trustors who desire to maintain control even after death may provide for an ongoing trust. In any case you must review the terms of the particular trust for your answer. If the trust has no provisions to address that issue then a judge will need to decide.
What is a living trust template?
A living trust template is a pre-designed document that outlines the terms and conditions of a living trust. It typically includes sections for naming beneficiaries, designating a successor trustee, and outlining how assets should be managed and distributed. These templates can be customized to fit individual needs and are often used as a starting point for creating a legally binding living trust.
What are some eight letter words with 2nd letter R and 3rd letter U and 4th letter S and 8th letter S?
According to SOWPODS (the combination of Scrabble dictionaries used around the world) there are 13 words with the pattern -RUS---S. That is, eight letter words with 2nd letter R and 3rd letter U and 4th letter S and 8th letter S. In alphabetical order, they are: brushers brushups crusades crusados crushers crusians crusties frustums trussers trustees trusters trusties trustors
Is the credit card holder estate responsible for charges made to the card after the holder dies?
Were these Charges MADE after the Death of the Card Holder? - if Not - then the answer is NO -- NO -- NO ....Why then do most trustors pay off? Its a step in "wrapping Up" someones affairs - the paying off of Credit Cards and other debts - The "good old soul.. his word was his bond would have wanted it that way! Lets get it clear - Credit Card charges made by a decedent - ARE not subject to repayment if that person cannot by the fact of their death - pay that bill in person by check or moneyorder. The estate has no obligation to pay off credit card charges, only the living person who made those purchases & charges is responsible.Think of it this way - if your relative shot somebody, and then died - would you have to go prison for them? That's not logical! Inheritors of estates large & small are entitled to suffer their loss without private or public harrassment from bill collectors!
Everyone, Everywhere Needs an Estate Plan ?
Whether people have millions of dollars in assets or they just a few possessions, they will need to prepare a plan for how they would like their things to be distributed. If they die without writing a will, a condition known as dying "intestate," the state in which the deceased lived will be in charge of distributing the property to the deceased's nearest relatives. To avoid the bickering that can occur in these situations and to make sure that their wishes are fulfilled, people can engage in estate planning and have a plan drawn up.What an Estate Plan Can DoWith an estate plan, people will decide how they would like their estates to be administered after they have passed away. One choice is to have a trust set up. With a trust, people will appoint Trustors who maintain control of the property on behalf of the beneficiaries named.People may also choose to make a gift of their property to the people they believe are most deserving. Many rules exist for this option and it's not, generally, chosen by people who are looking for ways to distribute their property after death. Sometimes, receivers of gifts earn capital gains that may subject them to the capital gains tax. Gift taxes and inheritance taxes also have been known to be levied after people have received property in the form of a gift.Part of estate planning can also mean giving someone power of attorney. This is the person who will make decisions for other people in the event that they cannot perform these duties for themselves.WillsThe estate plan that people are most familiar with is the will. With a will, people outline how they want their property distributed and it avoids the altercations that can occur without a will. They will be able to name the person who will be in charge of taking care of their last affairs as the executor. And most importantly, the will is the place where parents let it be officially known who will be the guardians of their children.Without a will or any estate planning, people don't know what will happen to their possessions or even their children after they have died. No matter how much money they have, they need to plan for the time they will no longer be around.
Reason for a pour-over trust?
Actually, there really is such a thing as a pour-over trust. It's not as commonly used as a pour-over will, but it does have its uses! The primary use of such an instrument is to aid in planning for incapacity. Such an instrument allows the donor to place assets in a trust during his or her lifetime and to act as the Trustee until his or her death. Often times, the Donor will name him or herself as a Co-Trustee along with a corporate entity such as a trust company or bank. Most, if not all, trusts include language regarding how the trustee should distribute property in the event the Donor-Trustee becomes incapacitated. This allows the remaining Corporate Trustee to continue distributing the funds on the behalf of and for the benefit of the Donor-Trustee. Unlike other Revocable Trusts however, the pour-over Rev. Trust terminates at the death of the Donor and all assets held by the Trust go back to the estate and go through probate. So long explanation short, a pour-over Trust is a great tool for planning for incapacity. I think you actually mean to ask the reason for a pour-over WILL, not a pour-over TRUST. A pour-over will is a will that specifically states that the decedent's assets should be moved into that person's living trust - or "poured over" into the trust. Typically, all of the person's assets are intended to be part of the trust, but sometimes trustors forget to title an account or property in the trust's name. In this situation, the pour-over will ensures that the asset ends up in the trust. One downside is that the trust was probably intended to avoid probate, whereas assets that are moved into the trust via the pour-over will usually must go through probate. Thus, it's far better to be sure to title everything in the name of the trust to avoid this undesired effect.
What are some eight letter words with 5th letter T and 6th letter O and 7th letter R and 8th letter S?
According to SOWPODS (the combination of Scrabble dictionaries used around the world) there are 61 words with the pattern ----TORS. That is, eight letter words with 5th letter T and 6th letter O and 7th letter R and 8th letter S. In alphabetical order, they are: abactors abettors ablators adaptors aerators agistors alastors auditors aviators chantors citators coactors creators curators debitors delators dilators dilutors donators eductors ejectors electors enactors equators erectors evertors evictors exactors excitors functors genitors grantors gyrators heritors ignitors janitors laxators legators levators locators monitors negators paritors praetors proctors questors quittors reactors realtors relators rotators senators stentors stertors tractors traitors trustors twistors venators visitors zelators
In California does the executor have to be appointed by the court even if the trust states who the executor is?
In California, if the trust clearly designates an executor, the court generally does not need to appoint one. However, in some situations, such as disputes or issues with the designated executor, the court may become involved. It is advisable to consult with a legal professional to ensure that all requirements are met.
