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under michigan how long do you have to disperse assets from a living trust after the death of the person who set up the trust what is considered a reasonable period of time for the trustee to act?
You have five years to settle things but the trust runs as long as it was set to.
What do I do in order to start a living trust?
A living trust needs to be drawn up by a lawyer. I would advise you to start by looking for a lawyer that specializes in estate planning. While forms can be downloaded on the internet, you need to make sure that everything legally required is done for your particular state. Here is a link to a good article on starting a living trust: http://www.ehow.com/how_7526244_start-living-trust.html
Does a Grant deed override a Living Trust in California?
In the state of California, a Living Trust will override a grant deed. You should speak to a lawyer to draw one up.
How and what are living trusts?
People have mixed opinions on whether or not to get a living trust. You can find out lots of information online about if a living trust is right for you and how to get one set up. One website to give you information is savewealth.com.
When was theLast time the numbers came in Michigan lottery 6700?
The Michigan Lottery's 6700 number was last drawn on March 20, 2023. For the most accurate and up-to-date information, it's always best to check the official Michigan Lottery website or their latest announcements.
What is a person assurance that you will keep a comitment?
You must build trust , By living up to your word.
What is the purpose of filling out Living Trusts?
It means you set up the trust fund before you die instead of waiting on a will to be enacted. read more here http://www.free-living-trust-information.com/
How do you set up a trust for a minor?
Trust law is an extremely complicated area of law. A valid trust should be drafted by an attorney who specializes in trust law since an improperly drawn trust can be extremely costly to correct and may result in loss of trust assets, unexpected taxes and vulnerability to creditors.Trust law is an extremely complicated area of law. A valid trust should be drafted by an attorney who specializes in trust law since an improperly drawn trust can be extremely costly to correct and may result in loss of trust assets, unexpected taxes and vulnerability to creditors.Trust law is an extremely complicated area of law. A valid trust should be drafted by an attorney who specializes in trust law since an improperly drawn trust can be extremely costly to correct and may result in loss of trust assets, unexpected taxes and vulnerability to creditors.Trust law is an extremely complicated area of law. A valid trust should be drafted by an attorney who specializes in trust law since an improperly drawn trust can be extremely costly to correct and may result in loss of trust assets, unexpected taxes and vulnerability to creditors.
How do you change the name of a checking account to a special needs trust written up as part of a revocable living trust?
You need to talk to the attorney that drew up your trust(s). If the special needs trust is contained with your living trust, then is it in existence now, or when you die? Check the terms. If it exists now, then there should be a name of the trust, a trustee and you should obtained a taxpayer id# from the IRS. Note that a transfer into the trust is probably a taxable gift. This is not a DIY project. Consult your attorney.
Can the surviving spouse dissolve a revocable living trust for the purpose of disinheriting a beneficiary?
Typically, a surviving spouse cannot unilaterally dissolve a revocable living trust for the purpose of disinheriting a beneficiary if the trust was set up by both spouses. However, they may be able to amend the trust if it allows for changes to beneficiaries. It is important to consult with an attorney for specific legal advice in this situation.
If parents want to transfer their house to their child what is the child's cost basis for the house?
You should speak to a good trust attorney about setting up a Living Trust and puting ALL parties in the trust. Then the Trust can own the property.
If someone is not living any more can they still hold a trust account?
In short, yes, a living trust can go on longer than the person lives. The trust is set up while the person is alive in order to allow a trustee to hold legal title to properties for a beneficiary. The living trust is beneficial for some in that it can help reduce estate taxes and avoid probate court
