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Must a person have contractual capacity to be a beneficiary of a trust?
Wiki User
∙ 16y ago
Answer: Minors may be beneficiaries of a trust.
Wiki User
∙ 16y ago
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What is the beneficiary in a trust?
the beneficiary in a trust is the person whom benefits from that which is held in trust.
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.
Does your husband have to be your beneficiary on life insurance?
No. You can have anyone you want be the beneficiary. A trust, church, or any person you choose can be your beneficiary.
How do you find out if you are a beneficiary of a trust?
You can find out if you are a beneficiary of a trust by requesting a copy of the trust document from the trustee or the attorney who created it. The trust document will outline the beneficiaries and their entitlements. You can also communicate directly with the trustee to inquire about your potential beneficial interest in the trust.
Can the same person be the trustee and a beneficiary of an irrevocable trust?
No. That would invalidate the trust.
Can the trustee and beneficiary be the same person in case of private trust?
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.
Can the same person be both the beneficiary and the trustee of a revocable trust?
Yes.
Is a person who was disinherited in a Will entitled to the terms of a trust as a beneficiary?
Yes, as long as the trust was not modified to exclude them also.
Can a person in another country be an heir or trust beneficiary?
If you mean a person outside the US then the answer is, yes.
Is it possible to arrange an irrevocable trust with the same person as grantor trustee and beneficiary?
You cannot have the same person as grantor, trustee and beneficiary in any trust. There is no trust created in such a set up. The grantor in an irrevocable trust cannot be the trustee. The property in an irrevocable trust must be permanently separated from the grantor's control.
What is a beneficiary under a will?
A beneficiary under a will is a person or other entity that receives a portion of the estate at the direction of the testator. A beneficiary can be a person, charity, trust, church, club, or any other entity that can receive property.
In law a person who finalises the transaction of as property to the beneficiary on express trust?
The person who finalizes the transaction of property to the beneficiary on express trust is typically known as the "trustee." Trustees are legally responsible for managing the trust assets in accordance with the terms of the trust and for distributing the property to the beneficiaries as outlined in the trust document. They have a fiduciary duty to act in the best interests of the beneficiaries and to follow the instructions of the trust.
