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How long can a trustee of a trust keep information from beneficiaries after the death of the owner of trust?
Wiki User
∙ 9y ago
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.
Wiki User
∙ 9y ago
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Does a settlor have to execute a deed to add property to an existing trust?
Yes. The property must be transferred by the owner to the trustee of the trust.Yes. The property must be transferred by the owner to the trustee of the trust.Yes. The property must be transferred by the owner to the trustee of the trust.Yes. The property must be transferred by the owner to the trustee of the trust.
What is an irrevocable life insurance trust?
A life insurance trust is an irrevocable, non-amendable trust which is both the owner and beneficiary of one or more life insurance policies. Upon the death of the insured, the trustee invests the insurance proceeds and administers the trust for one or more beneficiaries. (Moved from discussion comments below)
If there are two beneficiaries and one predeceases the NY annuity owner's death who gets the proceeds?
That really depends on the arrangements made by the annuity owner. You need to check the records of the company that holds the annuity account. The company should be informed of the death of the owner and that one beneficiary predeceased the owner. You need to know what arrangements were made.
If an offer on a property that is not having the mortgage paid because the owner is going brankrupt how does the potential buyer stand legally?
If the owner has filed bankruptcy the property cannot be sold. It is in the legal possession of the trustee in bankruptcy who cannot sell any property without the permission of the court. You can contact the court for the name and contact information of the trustee and direct any questions you may have to the trustee.
What can beneficiaries do if executor assumes ownership of property and leaves out coexecutor and other beneficiaries?
The executor IS the owner of the property, for the purpose of probate.
Do beneficiary names need to be on a deed that is in the name of the trust?
No. If the trust was created to hold the real property then the trustee of the trust will be listed as the owner. If the beneficiaries are listed in a deed as the owners the property will no longer be held in trust. The property must be held in the name of the trust OR the name of the beneficiaries of the trust as individuals.
'in death how much is paid if individual has several whole life insurance policies'?
The amount that is paid by whole life insurance is the face value of each policy. It would be paid to the beneficiaries listed by the owner upon his/her death.
Do microchips read the death of animals?
No. They store information about the owner of the animal.
Can you sell a real estate property titled in trustee after owner dies?
Can you sell a real estate property titled in trustee after mother and father dies
Can a policy owner of a keyman life policy change irrevocable beneficiaries where the beneficiaries are split between the insureds spouse and the owner-employer?
Yes, the policy OWNER has the right to make changes on the policy, including changes of beneficiaries, or % of split between different beneficiaries. Keyman life policies are usually owned by the key person's employer. The employer in this case can decide what % of the benefit the business will receive and if they want to split the benefit for other purposes (key person's spouse, trust, charity, etc).
Can a trustee get a loan on the property held in trust to pay off heirs?
Trustee is not the owner of the property and hence he will have no right to sell the property held under trust.
Can the beneficiary be changed after a death?
No, the beneficiary designation cannot be changed after the death of the policyholder. The insurance proceeds will be paid to the beneficiary named at the time of the policy issuance.
