0
Want this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
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.
What is the beneficiary in a trust?
the beneficiary in a trust is the person whom benefits from that which is held in trust.
What rights does a beneficiary and third heir have in an amended living trust?
They have no rights in the trust. The trust has already been established. They may be able to get help from a trust attorney.
What happens if the beneficiary of a california living trust dies before the estate is settled?
There is a disconnect here. A living trust is not related to an estate. The wording of the trust and perhaps the will associated with the individual will determine what the expectations are.
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.
How can you legally escape inheritance tax?
Generally this is done by creating a Living Trust or other Trust entity to pass your assets through to a beneficiary.
Can you sell a revocable living trust?
If I am the beneficiary of a revocable living trust which is specific and only has one house in it can I assign my beneficiary rights to some one else? Also can I draw a note between myself and the person whom I am assigning the note to for the sales price and record a trust deed against the note. I live in Utah. I other words I am selling or assigning the trust which owns the house. The trustee will remain the same, only the beneficiary will change.
Can a beneficiary of a living trust pledge interest as collateral?
Unless the Trust was created after the age of concent by mutual consent, it would have been pledged by your parents/informants
Can filing bankruptcy affect a living trust?
Yes. If the trust is not a true trust (i.e., the settlor, trustee and beneficiary are all the same person) or if the trust is revocable, the trustee can pursue the trust assets. If the debtor is the beneficiary of a living trust and can or has gotten a distribution of some of the trust assets, the trustee may be able go after the assets to the same extent the debtor is eligible to receive a distribution. It may be possible to negotiate a settlement of less than the full amount of the assets with the trustee.
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.
Can the executor of estate in trust force on-site beneficiary to move after death of testator?
They do have that ability. They can also charge rent for living there.
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.
