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whatever you want as long as she agrees to it. There is no set amount.
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What kind of terms generally apply in a revocable trust?
When it comes to a revocable trust, the trust is usually used for immediate family, or people who are listed on the trust. There is no trustee so it is pretty much a cheaper option since it is straight forward process.
What are the positive and negative effects of trust?
When you trust others you feel freer. However, placing too much trust in others may set you up to be taken advantage of by others.
What is the difference between a will and trust?
I have been living with a man for almost 20 yrs. At my request and many upsetting episodes. He agreed to buy me a house with his credit. My was not good enough. I invested my money for a down payment. Money I had in cd's at the bank. When I got this insurance settlement. The cd's were put in both our names. I do not know why they did that. Well, he promised if I used the cd's money for a down payment, he would give a paper that if he died the house was mine. He changed his mind. Now, he has a will drawn up with his lawyer, that I can have the house when he dies. I was going to pay the fee for this. But, after thinking it over. I know that he can change his will anytime he wants too.What would be the best solution, just in case he did die for me to keep the house? and his children be involved with the house. Thanks. Maria
How much should you charge per gallon of paint to paint something?
Charge by the time spent on the project - not the amount of paint.
When people and companies decide how much to pay for something or how much to charge?
Free-market system
As the surviving spouse of a AB living trust and now the trustee of the remaining family B irrevocable trust am I entitled to a annual fiduciary fee for managing this trust and if so how much?
Yes. The fee depends on local law and custom. For example, in Illinois a trustee can charge a reasonable fee. Some states have schedules.
What kind of terms generally apply in a revocable trust?
When it comes to a revocable trust, the trust is usually used for immediate family, or people who are listed on the trust. There is no trustee so it is pretty much a cheaper option since it is straight forward process.
What does the word trustee mean in a will?
A trustee is a person to whom control over trust assets (cash, securities or other property) has been placed (by the trust creator) for the benefit of one or more beneficiaries.Generally speaking a person or persons with powers of attorney may also be involved.I believe that the word "trustee" has the same meaning regardless of whether it appears in a will or in an written trust agreement meant to take effect while the trust creator is still alive (aka an inter vivos trust).For example, the testator (the person making his or her will) might want to leave a great deal of money or property to grandchildren who may be still too young to manage it wisely when the testator dies and the grandchildren are in a position to inherit. To delay the grandchildren's actual receipt of the inheritance until they are old enough, the testator may instruct in his will that the money or property is to be held by a namedtrustee until the grandchildren reach a specified age. The testator should make it clear who is to act as trustee (or alternate trustee, if the first-named trustee cannot serve.)A trustee has a serious legal responsibility to protect and preserve trust property, and invest it prudently (unless the testator has explicitly forbidden the trustee to invest the funds, which is probably very rare), and never to use the trust principal or income (if any) for his or her own benefit, even if he intends to "borrow" and repay the funds; if he does so, he is breaching his duty. However, a testator or other trust creator may provide in writing that the trustee may be paid his or her fee out of the trust assets, or be reimbursed for any trust-related expenses he or she incurs. Finally, a trustee generally must provide a written accounting of all of the funds coming into and leaving the funds in trust.
If you are entitled to a large inheritance right after bankruptcy how much can the trustee take?
Your bankruptcy trustee has the right to receive your share of the inheritance within 6 months of filing your case. The trustee has the right to receive it all. Typically what happens though is the trustee receives the full amount and then makes a determination of how much is needed to satisfy your estate and debts. If you receive more than is necessary to pay off your debts, you will get a refund. It can take some time though. In rare cases, the trustee may have you cut a check for the amount and you keep the difference. But normally trustees don't trust debtors to do this.
How much a lawyer charge if you will a lotto and set up a trust?
Yes, but only if you accept their terms.
What is a deed?
Generally, the term deed of trust can have different meanings in different jurisdictions and different transactions affecting land:The deed that conveys real property from an individual owner TO the trustee of a a trust that has been created in a separate trust document is called a deed of trust.In a different scheme a deed can convey real property from an individual to another individual AS THE TRUSTEE FOR someone else and then set forth the terms of the trust within the deed document.In either case, a deed of trust is the deed that conveys property TO a trustee. The deed FROM a trustee is not referred to as a deed of trust.In some jurisdictions a deed of trust is used in much the same way as a mortgage with the trustee holding the property until the debt is paid. Once the debt is paid the trustee executes a deed of release.
California attorney convinces her clients she can act as trustee in their living trusts She continues to bill her attorney hourly rate for trustee functions Is this OK?
This is not OK unless the client is fully aware of what he/she is doing and does so as his/her own knowing and voluntary act. In a living trust, the person making the trust (the settlor) has the power to fix the trustee's rate of compensation. In absence of specific directions in the trust, there should be state statutes governing the rate of compensation. If the statutory rate applies, then the attorney may not charge her hourly attorney's rate for what she does in the ordinary exercise of the functions of a trustee. This is generally part of the compensation rate statutes. Another reason why it is not OK is that attorneys are supposed to charge only for legal services rendered unless the client agrees otherwise. The ordinary functions of a trustee, such as investing assets, keeping the books and making payment out of the trust can be performed by a non-attorney and are not considered "legal services". Thus the attorney should not be charging her legal services rate for what are non-legal services. Further, it might even be unethical and even constitute undue influence. If the attorney does not clearly explain that she will be charging her hourly rate and that that will cost much more than the statutory commission statutes provide, then she is not properly representing her client. In fact she is doing her clients a disservice because the attorney must look out for the client's best interest over her own and she is not doing that if she misleads her client into paying more for a trustee's services than the client should be paying. This is especially wrong when the attorney herself is the recipient of the excess amount being paid.
College Education Trust?
College Education Trust(Download)This College Education Trust Agreement ("Agreement" or "Trust") is made effective as of ______________, between __________________, residing at ________________("Grantor") and ("Trustee"). This Trust shall be known as the ________________ College Education Trust, dated ______________. In consideration of the mutual covenants and promises set forth in this Agreement, the Grantor and the Trustee agree as follows.1. Purpose / Irrevocable Trust. The primary purpose of this Trust is to receive and manage assets for the health, education, and support of the beneficiary. THIS TRUST IS IRREVOCABLE. The Grantor realizes that the right to revoke or amend this Trust may be reserved, but that right is expressly waived. This Trust is not subject to alteration, amendment, revocation, or termination by the Grantor or any other person. The Grantor renounces any possible benefit from this Trust.2. Funding of Trust. This Trust is being funded initially with the amount of $________, the receipt of which is acknowledged by the Trustee. Additional funding may be provided by (i) life time gifts made by the Grantor to this Trust, (ii) transfers made to this Trust as testamentary gifts by the Grantor, and (iii) such other transfers of property that may be made to this Trust from time to time by the Grantor or other persons. The Trustee shall manage and distribute the Trust assets for the benefit of the Beneficiary in accordance with the terms of this Agreement.3. Distributions to the Beneficiary. Until the Beneficiary attains the age of 25 years, the Trustee may distribute to or for the sole benefit of the Beneficiary as much of the income and/or principal as the Trustee (in the Trustee's sole discretion) may determine is necessary for the Beneficiary's health, education, and support. Any amount which the Trustee does not distribute to or for the benefit of the Beneficiary shall be accumulated and added to the principal of the Trust. No distributions of principal or income shall be made to or for the Beneficiary which would have the effect of satisfying the Grantor's legal obligation, if any, to support the Beneficiary.4. Education. For the purpose of making distributions under this Trust, the term "education" shall include reasonable costs for college, trade schools, job training, or other costs that reasonably develop income-earning capabilities.5. Termination of the Trust at Age 25 Years. When the Beneficiary attains the age of 21 years, the remaining trust assets shall be distributed to the Beneficiary and this Trust shall then terminate.6. Continuation of Trust. As an alternative to mandatory termination of this Trust at age 25 years, the Beneficiary may request that this Trust be continued. If the Beneficiary makes a written request to continue this Trust within 60 days after the Beneficiary attains the age of 25 years, the Trustee shall continue the Trust until the Beneficiary attains the age of 30 years.a. Distributions After Age 25 Years. During this additional time period, all of the net trust income shall be paid to the Beneficiary at least annually. In addition, the Trustee shall distribute to or for the benefit of the Beneficiary as much of the principal as the Trustee (in the Trustee's sole discretion) may determine is necessary for the Beneficiary's health, education, and support. In making such distributions, the Trustee shall take into consideration any other income and property that is known by the Trustee to be available to the Beneficiary for the above purposes.b. Termination of the Trust If the Trust Has Been Continued Past Age 25 Years. When the Beneficiary attains the age of 30 years, the remaining trust assets shall be distributed to the Beneficiary and this Trust shall then terminate.7. Death of the Beneficiary. If the Beneficiary dies before attaining the age at which this Trust shall terminate, the following provisions shall apply.a. General Testamentary Power of Appointment. The Beneficiary shall have a "general testamentary power of appointment" to distribute the remaining trust assets. Having this power means that the Beneficiary may state in the Beneficiary's last will and testament (or in some other written document that is signed by the Beneficiary and acknowledged before a notary public or similar official) who will receive the remaining trust assets, if the Beneficiary dies before attaining the age at which this Trust shall terminate. The Beneficiary shall have the absolute discretion to state who the beneficiaries will be. The beneficiaries may include the Beneficiary's estate and/or creditors. To validly exercise this power, the Beneficiary's will (or other document) must specifically refer to this power. Upon distribution of the trust assets, this Trust shall then terminate.b. Alternate Distribution. If the Beneficiary fails to validly exercise this general testamentary power of appointment, the Trustee shall distribute the remaining trust assets to the Beneficiary's then surviving descendants on a "per stirpes" basis. If the Beneficiary has no surviving descendants at such time, the remaining trust assets shall be distributed to the Beneficiary's heirs-at-law. Heirship shall be determined in accordance with the intestacy laws of New Hampshire then in effect.c. Failure of the Trustee to Receive Notice. If the Trustee does not receive actual notice of the existence of a will or other document exercising this general testamentary power of appointment within 90 days after the Beneficiary's death, then the Trustee may distribute the trust assets under the prior paragraph as if such power had not been exercised. However, if the power really has been exercised, this paragraph shall not prevent the beneficiary of such a power from enforcing the power as exercised.d. Types of Distributions. Distributions to a beneficiary may be made (i) outright to such beneficiary, (ii) to any other trust that has been created for such beneficiary or (iii) to a custodial account for such beneficiary under the applicable Uniform Transfers to Minors Act (or equivalent legislation). The Trustee shall have the sole discretion to determine which alternative to use.8. Limitations on Powers. Notwithstanding any other provision of this Agreement to the contrary, the following limitations on powers shall apply.a. No power granted to the Trustee in this Agreement or under law shall be construed to allow the Grantor, the Trustee, or any other person to purchase, exchange, or otherwise deal with or dispose of all or any part of the principal or income of this Trust for less than an adequate consideration in money or money's worth, or to enable the Grantor to borrow all or any part of the principal or income of the Trust, directly or indirectly, without adequate interest or security.b. No person, other than the Trustee acting in a fiduciary capacity, shall have or exercise the power to vote or direct the voting of any stock or other securities of the Trust, to control the investment(s) of the Trust either by directing investments or reinvestments, or to reacquire or exchange any property of the Trust by substituting other property.9. Protection of Beneficiary. The Beneficiary may not sell, assign, transfer, or pledge (or in any other manner dispose of or encumber) the Beneficiary's interest in any part of the Trust. The interest of the Beneficiary shall not be subject to assignment, anticipation, claims of creditors, or seizure by legal process. If the Trustee believes that the Beneficiary's interest is threatened to be diverted in any manner from the purposes of this Trust, the Trustee shall withhold the income and principal from distribution, and shall apply payment in the Trustee's discretion in such manner as the Trustee believes shall contribute to the health, education, and support of the Beneficiary. When the Trustee is satisfied that such diversion is no longer effective or threatened, the Trustee may resume the distributions of income and principal as authorized.10. Trustee Powers. Subject to the other provisions of this Agreement, and in addition to any other powers and authority granted by law or necessary or appropriate for proper administration of this Trust, the Trustee (and any successor trustee) shall have the following rights, powers, and authority, without order of court and without notice to anyone.a. Receive Assets. To receive, hold, maintain, administer, collect, invest and re-invest any trust assets, and collect and apply the income, profits, and principal of the trust in accordance with the terms of this Agreement.b. Receive Additional Assets. To receive additional assets from other persons and sources including assets by testamentary disposition; all such additional assets shall be held and administered under, and be subject to, the terms of this Agreement.c. Retain Assets. To retain any asset, including uninvested cash or original investments, regardless of whether it is of the kind authorized by this Agreement for investment and whether it leaves a disproportionately large part of the Trust invested in one type of property, for as long as the Trustee deems advisable.d. Dispose of or Encumber Assets. To sell, option, mortgage, pledge, lease or convey real or personal property, publicly or privately, upon such terms and conditions as may appear to be proper, and to execute all instruments necessary to effect such authority.e. Settle Claims. To compromise, settle, or abandon claims in favor of or against the Trust.f. Manage Property. To manage real estate and personal property, borrow money, exercise options, buy insurance, and register securities as may appear to be proper.g. Allocate Between Principal and Income. To make allocations of charges and credits between principal and income as in the sole discretion of the Trustee may appear to be proper, and to create reserves for taxes, depreciation, and other lawful purposes.h. Employ Professional Assistance. To employ and compensate legal counsel and other persons deemed necessary for proper administration, and to delegate authority when such delegation is advantageous to the Trust.i. Distribute Property. To make division or distribution in money or kind, or partly in either, at values to be determined by the Trustee, and the Trustee's judgment shall be binding upon all interested parties.j. Enter Contracts. To bind the Trust by contracts or agreements without assuming individual liability for such contracts.k. Exercise Stock Ownership Rights. To vote, execute proxies to vote, join in or oppose any plans for reorganization, and exercise any other rights incident to the ownership of any stocks, bonds, or other properties of the Trust.l. Duration of Powers. To continue to exercise the powers provided under this Trust notwithstanding the termination of the Trust until all of the assets of the Trust have been distributed.m. Compensation and Expenses. To receive reasonable compensation for trustee services provided under this Agreement and be exonerated from and to pay all reasonable expenses and charges of the Trust.n. Standard of Care. To acquire, invest, reinvest, exchange, retain, sell, and manage trust assets, exercising the judgment and care, under the circumstances then prevailing, that persons of prudence, discretion, and intelligence exercise in the management of their own affairs, not in regard to speculation but in regard to the permanent disposition of their funds, considering the probable income as well as the probable safety of their capital. Within the limitations of that standard, the Trustee is authorized to acquire and retain every kind of property, real, personal or mixed, and every kind of investment, specifically including, but not by a way of limitation, bonds, mutual funds, debentures and other corporate obligations, and stocks, preferred or common, that persons of prudence, discretion, and intelligence acquire or retain for their own account.o. Methods of Distribution. To make payments to or for the benefit of the Beneficiary (including the possibility that the Beneficiary might be under a legal disability) in any of the following ways: (a) directly to the Beneficiary; (b) directly for the health, education, and support of the Beneficiary; (c) to the legal or natural guardian of the Beneficiary; or (d) to anyone who at the time shall have custody and care of the person of the Beneficiary. The Trustee shall not be obligated to see the application of the funds so paid, but the receipt of the person to whom the funds were paid shall be full acquittance of the Trustee.p. Loans. To make loans to the Beneficiary for housing and support needs, educational purposes, or to take advantage of an exceptional business opportunity.11. Trustee Provisions. These additional provisions shall apply regarding the Trustee (and any successor Trustee).a. Successor Trustee. If at any time a Trustee cannot serve because of the Trustee's disability (as previously defined), death, resignation, or other reason, ______________is appointed as the successor Trustee. If such appointee is unable to serve for any reason, __________________ is appointed as the alternate successor Trustee.b. Financial Reports. The Trustee shall provide financial reports to the Grantor on at least an annual basis as long as the Grantor is living. After such time, financial reports shall be provided at least annually to the Beneficiary. If the Beneficiary is under any legal incapacity, the financial reports shall be provided to the Beneficiary's guardian (natural or otherwise) or conservator. Financial reports shall include a balance sheet that lists the assets and their values, an income statement that shows income and expenses, and a listing of distributions on behalf of the Beneficiary.c. No Bond. No bond shall be required of any Trustee, unless required by law.d. Institutional Trustee. Any institutional trustee serving under this Trust must have a total capital account of at least fifteen million dollars, have an established Trust Department or Trust Division, and must be qualified to act as a trustee under the laws of the United States or any state of the United States. The acceptance of trusteeship by any institutional trustee is full evidence of its agreement to these provisions.e. Liability of the Trustee. The Trustee shall have liability only for the Trustee's acts and omissions that are made in bad faith. Further, a successor Trustee shall not be liable for any acts or omissions of any prior Trustee.12. Non-Court Trust. Unless required otherwise by law, the Trustee shall administer this Trust as a non-court trust, without the necessity of notice to or approval of any court or person. As provided by law, the Trustee may petition a court to take jurisdiction over this Trust.13. Governing Law. This Agreement shall be construed in accordance with the laws of the State of ________________._____________________Grantor_____________________TrusteeSTATE OF ____________________COUNTY OFThis Trust instrument was acknowledged before me on this _______ day of ______, 20__.______________Notary PublicMy Commission expires:College Education TrustReview ListThis review list is provided to inform you about this document in question and assist you in its preparation. This is a standard format for an educational trust. Add and modify as you see fit. The trust ends at 25, not 21. Consider whether you believe this appropriate for your circumstances.1. Make multiple copies. Give one to each relevant party. Keep one with the transaction file.
Can you roll over a 401K to a Roth Ira without paying taxes?
Yes. But it is much better and no taxes will be withheld if you have the trustee do a direct transfer from the 401K trustee to the IRA trustee and you do not receive any of the funds in your hand.
How much does it cost to put a caveat on a will?
If you add it yourself (good idea to have it witnessed) it costs nothing. If you have an attorney prepare it they may charge you a one-time fee OR, if your attorney also happens to be the wills trustee, they may do it gratis as a service.
Revocable Trust?
Revocable Trust(Download)______________, referred to herein as SETTLOR, and _____________, referred to herein as TRUSTEE, (the singular term “TRUSTEE” shall refer to multiple TRUSTEES if multiple TRUSTEES are appointed) in consideration of the covenants and undertakings herein agree:ARTICLE ICONVEYANCE OF PROPERTY TO THE TRUSTEESETTLOR herewith assigns and conveys to the TRUSTEE, the property described in Exhibit “1” hereto. All of said property, together with any income, accessions and additions herein, shall be held by the TRUSTEE in trust for the purposes set forth in this revocable living trust.ARTICLE IIREVOCATIONSETTLOR hereby reserves the right to revoke this trust at any time, by written instrument. Revocation shall be effective upon mailing or delivery to the TRUSTEE of a notice of revocation.TRUSTEE may resign upon ____ days prior written notice to the SETTLOR. For purposes of this agreement, notices shall be delivered as follows:TO SETTLOR____________________________________________________________________________________TO TRUSTEE_________________________________________________________________________________ARTICLE IIISUCCESSORS TO THE TRUSTEE. ADDITIONAL TRUSTEESThe SETTLOR during his lifetime may from time to time add additional TRUSTEES by notice to the then existing TRUSTEES. In the event there are multiple TRUSTEES, the majority shall in any matter in which the TRUSTEES disagree control. In the event that the TRUSTEES are evenly divided in the actions to be taken, the TRUSTEE with the longest tenure of service shall cast an additional vote to determine the matter.In the event that any TRUSTEE resigns or is unwilling or incapable of acting, during the SETTLORs lifetime, the SETTLOR shall name additional or replacement TRUSTEES. After the SETTLORS death, _____________ shall name the replacements for any TRUSTEES who resign or are unwilling or incapable of acting. If ________ _______ is unwilling or incapable of acting, _____________ shall name the same. In the event that _____________ shall be unwilling or incapable of acting, the Court having jurisdiction over estates and trusts, located in ________ County, State of _________ shall name the successor TRUSTEES.ARTICLE IVWITHDRAWALS BY SETTLORThe SETTLOR may from time to time withdraw any portion of the corpus of the trust (whether capital or interest) by written notice to the TRUSTEE. The TRUSTEE shall be acquitted of all further responsibility for any assets so delivered upon receipt by the SETTLOR.ARTICLE VPOWERS OF THE TRUSTEEThe TRUSTEE shall have the power to do all acts, institute all proceedings and exercise all rights, powers and privileges that an absolute owner of the trust property would have, subject always to the discharge of trustees fiduciary responsibilities.I further direct that the TRUSTEE shall act without bond. Further, this TRUST shall be administered without the necessity for an administration thereof to be through the court system.No entity dealing with the TRUSTEE shall be required to investigate or to confirm the TRUSTEEs authority to enter into any transaction or to administer the application of the proceeds of any transaction.ARTICLE VICOMPENSATION OF TRUSTEEIf the TRUSTEE is an individual, then the TRUSTEE shall serve without compensation, but with reimbursement for reasonable and ordinary expenses. Nevertheless, the TRUSTEE if an attorney shall be entitled to compensation for legal services rendered to the trust, or if an accountant, for accounting services rendered to the trust.If the TRUSTEE is a corporation or banking entity, it shall be entitled to customary, reasonable and ordinary charges and expenses incurred in rendering services to the estate.ARTICLE VIDISPOSITION OF TRUST PROCEEDSAfter paying the necessary expenses incurred in the management and investment of the trust estate, including compensation as provided for herein, the TRUSTEE shall accumulate the same during the lifetime of the SETTLOR.After SETTLORs death the TRUSTEE shall distribute the net income of the TRUST the following manner:_________________________________________________________________Should any beneficiary named above die, the TRUSTEE shall distribute the net income to the lineal descendants of the beneficiary. If any beneficiary dies and is not survived by lineal descendants, the distributions from the TRUST shall be adjusted to pro-rata increase all other shares.ARTICLE VIIINVASION OF PRINCIPALAfter SETTLORs death, the TRUSTEE may apply so much of the principal of the trust for the use of the beneficiaries at such time or times as in trustees discretion TRUSTEE may deem advisable for their health, education, support and maintenance. Any amounts so applied to the use of any beneficiary shall be charged against, or deducted from, the principal of any share then or thereafter set apart for said beneficiary.ARTICLE VIIINON-ASSIGNABILITY OF THE TRUST PROCEEDSThe interest of the beneficiaries of this trust shall not be assignable, and beneficiaries shall not have the right to pledge, assign, convey, or otherwise transfer, lien or encumber any portion of the income or principal of the trust. All payments provided for by the beneficiaries herein shall be made directly to them or their guardians as is provided herein.ARTICLE VIIIDISTRIBUTIONS TO MINOR OR INCOMPETENT BENEFICIARIESThe TRUSTEE in his discretion may make payments of income or principal to any minor or incompetent beneficiary by paying the same to the minor or incompetents guardian, or to the person having control over the minor or incompetent, or by direct expenditure for the benefit of the minor or incompetent. However, the TRUSTEE may also pay an allowance in such amount as he may fit from time to time to the minor or incompetent. Further, in the discretion of the TRUSTEE the distributions for a minor or incompetent beneficiary may be accumulated and shall thereupon be paid to the minor or incompetent upon their disability being removed. Any payment under this Section shall operate as a full discharge of the TRUSTEE as to such payment.ARTICLE VIIIACCOUNTINGSThe TRUSTEE shall, after the death of the SETTLOR provide a semi-annual accounting to all competent, adult beneficiaries detailing the transactions, if any, of the trust. The same shall not be required to be audited, although the TRUSTEE may, in his sole discretion, may cause an audit to be performed from time to time.ARTICLE IXLIQUIDATION OF TRUSTIf at any time the total of the principal and income of the trust is less than $ __________, the TRUSTEE, may in his absolute discretion, close out the trust by paying the proportionate shares of each beneficiary to them. The TRUSTEE shall at that time deliver a final accounting to each beneficiary. Upon payment, the TRUSTEE shall be discharged from all further duties.ARTICLE XPERPETUITIES SAVINGS CLAUSENotwithstanding anything to the contrary herein contained, the trust created by this agreement shall cease and terminate as is provided in Section IX, 21 years after the death of the last survivor of trustors and all issue of trustors living at the date of this agreement.ARTICLE XIDISTRIBUTION OF DIVISION IN KINDOn any distribution from the trust, whether it be an ordinary distribution or one of principal, or a final distribution, the TRUSTEE may apportion and allocate the assets of the trust estate in cash and partly in kind, in TRUSTEEs discretion. The valuation, whether based on an appraisal, or not, made by the TRUSTEE shall be binding on the beneficiaries.ARTICLE XIILITIGATION OR COMPROMISE OF CLAIMSThe TRUSTEE may compromise, or abandon, at TRUSTEEs option any claim or claim against the trust, or subject the same to arbitration. Or, the TRUSTEE, in his absolute discretion, may litigate any claim in favor of or against the estate.ARTICLE XIIINOTICE OF EVENTSUntil the TRUSTEE receives notice of any death, birth, marriage, or other event on which the right to receive distributions is based, the TRUSTEE shall incur no liability for any disbursements or distributions made in good faith. This clause shall not prevent the TRUSTEE from seeking restitution of any payments made in error in his discretion.ARTICLE XIVDEFINITIONS- GOVERNING LAWThe words “child”, “children”, “descendants” and “issue” shall include children legally adopted and the lawful descendants of such adoptees.This trust shall be governed by the laws of _________.ARTICLE XVSEVERABILITYIf any provision herein is found by a court of competent jurisdiction to be invalid, the remainder shall govern.Dated: __________________________________________________________________________________STATE OF _________COUNTY OF _________________________, being duly sworn states that they executed this instrument for the purposes stated herein.___________________________________________________Notary PublicMy Commission Expires: ___________________Revocable TrustReview ListThis review list is provided to inform you about this document in question and assist you in its preparation. This is a standard revocable trust document. Feel free to modify it to suit your purposes.1. Make multiple copies. Keep extras for filing with any registry of deeds if required. Keep a copy with the transaction file.
Who much of your tax return can the bankruptcy trustee take?
If it has not been exempted, all of it.
