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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.
Can a future beneficiary borrow against his assets in trust?
If the trust is a spendthrift trust, then no, the beneficiary probably cannot borrow against it. It is up to the lender.
Does a land trust protect the beneficiary from law suits?
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.
Can a creditor claim assets held for a beneficiary in trust in case of bankruptcy of the beneficiary?
Not if the trust was properly drafted by a professional.
Can a beneficiary of a trust be bought out and if so does a buy out agreement need to be recorded?
You need to review the provisions of the trust to determine if the trust allows a "beneficiary buy-out".
Who pay the trustee?
its a trust or a beneficiary.
What does a trust?
Allows one group to control many companiesA trust is a legal vehicle whereby the legal title and the equitable title to the property comprising the trust res is split between a trustee and a beneficiary. The conveyance of property into a trust functions to put the trust res at arm's length from both the grantor and the beneficiary for various reasons, both legal and capricious.
Is an irrevocable trust terminated if beneficiary dies before the trustor?
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.
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.
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.
What if the property is in a trust and I am the beneficiary of that trust?
Under UK Law: The trustee's must authorise the release of the property to the beneficiary(s) The beneficiaries under certain trust law can demand the property of the trust, but the trust deed must state a legal 'absolute' entitlement to that property. If the beneficiary has an absolute right to that property and has attained the stated age at which he or she should receive that property then the trustee's must authorise the payment to the beneficiary. IF it is a discretionary trust then you are only a 'potential' beneficiary and have no legal right to demand the property
