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Yes a savings account trust can have an age when a beneficiary is entitled to it. For example, some people maybe entitled to it at age 18. It is best to contact the bank of the savings account to inquire.
the beneficiary in a trust is the person whom benefits from that which is held in 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.
If the trust is a spendthrift trust, then no, the beneficiary probably cannot borrow against it. It is up to the lender.
Yes. A properly drafted trust shields the beneficiary from being personally liable for lawsuits involving the trust property.Yes. A properly drafted trust shields the beneficiary from being personally liable for lawsuits involving the trust property.Yes. A properly drafted trust shields the beneficiary from being personally liable for lawsuits involving the trust property.Yes. A properly drafted trust shields the beneficiary from being personally liable for lawsuits involving the trust property.
Not if the trust was properly drafted by a professional.
You need to review the provisions of the trust to determine if the trust allows a "beneficiary buy-out".
its a trust or a beneficiary.
You need to review the terms of the trust to determine how it must be managed. A well drafted trust will include a provision for an alternate beneficiary if the primary beneficiary dies or it will include a provision for the termination of the trust and distribution of any remaining trust property.
No. You can have anyone you want be the beneficiary. A trust, church, or any person you choose can be your beneficiary.
If there is (1) more than one trustee; and, (2) the trustee-beneficiary cannot act as trustee unilaterally; and (3) the other trustee is not a beneficiary of the trust, yes. If the the trustee is also designated the beneficiary, the trust fails as illusory.
Yes, a trustee can sue a beneficiary of a trust if there is a breach of trust or if the beneficiary has caused harm to the trust estate. The decision to sue typically requires approval from the trust instrument or court approval in some cases.