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What if the grantor is no longer mentally capable of living at property?
Wiki User
∙ 10y ago
That will depend on the wording of the will or trust. While they may have to move out for health and safety reasons, in most cases there is still a life estate in the property.
Wiki User
∙ 10y ago
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Who is grantor in a living trust?
The grantor in a living trust is the person who executes or creates the trust and then transfers their property to the trustee. After they transfer the property they no longer own it.
Who is the grantor in a living trust?
The grantor in a living trust is the person who executes or creates the trust and then transfers their property to the trustee. After they transfer the property they no longer own it.
When does a power of attorney dissolve?
When the grantor says it is no longer valid. Or when the grantor is no longer living.
How should the owner's name appear on a deed when the property is to be placed into a living trust?
The present owner of the property is the grantor and the trustee of the trust is the grantee. The grantor in the deed should be recited exactly the same as in their acquisition deed when they first acquired the property. The grantee should be recited as, " to Jill Smith as trustee of the Smith Family Trust under a Declaration of Trust dated June 18, 2009".
If a person that reserves a life estate in property but does not occupy the property becomes incapacitated and has a power of attorney does the appointed person have control over the property?
The power of attorney will have control of the property as long as the individual remains living. The life estate and the power of attorney expire on the death of the grantor.
Is A child with Down's Syndrome mentally retarded?
Yes Down's Syndrome will mean some mental retardation. However many are still quite capable of living a good life.
Can the grantor sell assets listed in irrevocable living trust?
The grantor has no control over the assets in an irrevocable trust. Those assets are under the control of the trustee.
Can credit card companies file liens on your home in California if it is in a Living Trust?
That all depends on the trust and whether it was properly drafted to remove your property from your estate and place it out of reach from your creditors. If your trust was improperly drafted your property will remain vulnerable to creditors. One of the most common trust errors made is for the grantor of the trust to retain control over the trust property by acting as the trustee and often as the beneficiary as well. In that scheme no trust was created and the property is still in the estate of the grantor. Your trust needs to be reviewed.
Property of life that involves increase in size and number of cells?
A property of life that involves increase in size and number of cells would be growth. All living things are capable of growth.
Can an heir be removed from a trust?
Only by the grantor assuming said person is still living.
In Oklahoma mother has four living children but deeded property to only one child that was her intent due to not give other kids her property had doc saying mentally stable but court set aside deed?
What's the question?
Can a grantor name himself as a trustee of an irrevocable living trust?
Generally no. In an irrevocabe trust the grantor cannot maintain any control over the trust property. Trust law is very complex and trusts are subject to the IRS Code. If not properly drafted a trust can also leave the trust property exposed to creditors. Anyone contemplating the creation of a trust should seek the advice of an attorney who is an expert in estate planning, tax law and trust law.
