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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 powers does an executor of an irrevocable trust have?
The power to execute the will of the Grantor for the uses and purposes and on the terms and conditions set forth within the Trust itself.
What is the purpose of an irrevocable living trust?
Generally, an irrevocable living trust is created in order to transfer assets from a parent's estate to the trust in order to avoid inheritance taxes on the parent's estate, protect assets from creditors, make charitable contributions and other purposes. The key thing about the irrevocable trust is that the trustor (the trust maker) can not later change the terms of the trust once the documents have been signed.
Choose the terms that are used for the buying and selling of goods.?
supply and demand
What are the benefits of having an irrevocable trust?
The property is no longer vulnerable to your creditors, your heirs or your personal income taxes. After a waiting period, it cannot be used to disqualify you from entitlements. You can choose how the income will be distributed and how the property will eventually be distributed when the trust is terminated. However, you cannot get the property back. An irrevocable trust should be drafted by an expert in trust law.
What trust fund money can be used for?
It depends entirely on the terms of the trust. You should read the trust document (if there is one) or speak with the trustee.
Is a settlor of the trust the same as a grantor?
Yes. Several terms are used to describe the person who transfers their property to a trust: trustor, settlor, grantor.
Can one lose trust income if they remarry?
You need to review the terms of the trust. The trust is administered according to the provisions set forth in the instrument that created the trust.You need to review the terms of the trust. The trust is administered according to the provisions set forth in the instrument that created the trust.You need to review the terms of the trust. The trust is administered according to the provisions set forth in the instrument that created the trust.You need to review the terms of the trust. The trust is administered according to the provisions set forth in the instrument that created the trust.
If funds need to be used that are in a trust how do you get the funds out?
Funds that are held in trust are under the complete control of the trustee. The provisions of the trust dictate how the trustee will manage those funds. You need to review the terms of the trust with the trustee and determine how and if the funds can be accessed. If the terms of the trust are insufficient or there is no provision under which the trust property can be accessed then a court of equity has the power to modify the trust. You may need to seek the advice of an attorney who is familiar with trust law in your state.
Is a beneficiary required to accept any form of payment the trustee mandates from an trust?
You need to review the terms of the particular trust to determine how the beneficiaries are to be paid.You need to review the terms of the particular trust to determine how the beneficiaries are to be paid.You need to review the terms of the particular trust to determine how the beneficiaries are to be paid.You need to review the terms of the particular trust to determine how the beneficiaries are to be paid.
Can you take a loan from a trust account?
It depends on the terms of the trust. If the terms permit it, and the trustee agrees, yes. If not, and/or the trustee does not agree, then no.
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 responsibilities of an executor of a living trust?
A trust doesn't have an executor. It has a trustee. The trustee manages the trust according to the terms of the trust.
What is the Difference between light cigarettes and ultra lights?
I suspect those are marketing terms; better don't trust any cigarette.I suspect those are marketing terms; better don't trust anycigarette.I suspect those are marketing terms; better don't trust anycigarette.I suspect those are marketing terms; better don't trust anycigarette.
How do you close out a living trust?
You need to review the terms of the trust to see how it can be terminated.
Terms used when the puck bounces back off the goalie?
A save, rebound or deflection. Trust me I am a goalie! Em 27
What is your financial obligation if you are heir to a trust?
You have no responsibilities. The trust is responsible for its costs and distributing the assets per the terms of the trust.
