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Who manages the trust when the trustee goes out of the countru?
Wiki User
∙ 13y ago
You need to check the provisions of the trust to determine if an agent can be appointed.
Wiki User
∙ 13y ago
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Can assets be siezed if a trustee of an revocable living trust goes bankrupt?
Probably not. The trustee and the Trust are entirely different things.
How does the trustee of an irrevocable trust distribute to the beneficary who is now deceased?
it goes to the next of Kin or to the state as cherity
Your mother is the beneficary of 2 different trust 1 in Wis and Ma her trustee has been putting income into the one in ma from a commuity property state Wis is this co mingling?
Commingling is the mixing together of personal funds with the funds of a beneficiary or client. It is a breach of a fiduciary relationship. In the situation you described the trustee is not mixing your mother's funds with his/her own funds. Transferring property from one trust to another trust that benefits the same person is not commingling. The trustee may be acting to the benefit of the beneficiaries. If you suspect the trustee is acting improperly you should encourage your mother to request an accounting of each trust. The trustee should provide an annual account every year. It is the only way to monitor that what goes into the trust is only being used to benefit the beneficiaries and to pay the costs of administering the trust. What property comes in should equal the income that goes out for those purposes.
Trust deed leaves property to 4 adult children Both parents have now passed away If one of four dies who would receive their share?
A trust deed conveys property to a trustee who then holds title to the property according to the provisions of the trust. You need to examine the provisions of the trust document to determine who the beneficiaries are. If the house is the only property in the trust you need to read the actual trust document to determine who the beneficiaries are as recited in the trust document. That trust document controls what the trustee may do with the property and who will inherit a deceased beneficiary's interest. If the trust doesn't mention what will happen if one of the siblings dies then perhaps the trust gives the power to the trustee to convey the property by a deed TO the four siblings. You could then decide how it will be held by the four of you. If the trust states the property should ge distributed to the four children upon the death of the parents then the trustee can convey the property to the four children by deed. If that deed recites that the grantees will hold the property as joint tenants with the right of survivorship and one dies, her share will pass to the remaining siblings. If that deed recites that the grantees shall hold as tenants in common and one dies, her share goes to HER heirs. Therefore, if you get a deed from the trustee passing title to you then you can decide for yourselves how title will be held. If the trust doesn't give the trustee the power to sell then the trust will need to be modified by judge so the property can be conveyed to the heirs. In any case, you should seek legal advice from a probate/real estate attorney to straighten this matter out for you. This situation is subject to your own state laws.
If a house is in a trust and the person that owns the trust dies and that house goes into foreclosure and there is no assets in the trust prior to foreclosure can they come after anything else?
The bank will take possession of the property. If the mortgage was granted prior to the property being transferred to the trust the bank may try to attach assets of the mortgagor/decedent for any deficiency. If granted by the trustee only the trust assets are vulnerable.
How is the cell membrane related to a school?
The cell membrane manages what goes in and out of the cell as a teacher manages where students go to in a specific part of the school such as a bathroom.
What power does an beneficiary have of an estate?
In some cases a testator sets up a trust in her will. That type of trust is called a testamentary trust. Some trusts can go on forever especially with a very wealthy testator who wants to maintain control over her estate even after death. In some cases a trust is established by the testator when there are devisees who are minors, spendthrifts or under some handicap. The trust is treated separately from the probate of the will. An executor is appointed to distribute the property according to the will. If a testamentary trust is set forth in the will, the named property goes to the trust and a trustee is appointed to administer the property according to the terms of the trust. The powers of the trustee are set forth in the will.
What is the ending of Monsters inc?
Mike manages to rebuild Boo's destroyed door, and with Sully's last piece they can open in and Sully goes in. That is the final scene. You don't see Boo in it.Mike manages to rebuild Boo's destroyed door, and with Sully's last piece they can open in and Sully goes in. That is the final scene. You don't see Boo in it.Mike manages to rebuild Boo's destroyed door, and with Sully's last piece they can open in and Sully goes in. That is the final scene. You don't see Boo in it.Mike manages to rebuild Boo's destroyed door, and with Sully's last piece they can open in and Sully goes in. That is the final scene. You don't see Boo in it.Mike manages to rebuild Boo's destroyed door, and with Sully's last piece they can open in and Sully goes in. That is the final scene. You don't see Boo in it.Mike manages to rebuild Boo's destroyed door, and with Sully's last piece they can open in and Sully goes in. That is the final scene. You don't see Boo in it.Mike manages to rebuild Boo's destroyed door, and with Sully's last piece they can open in and Sully goes in. That is the final scene. You don't see Boo in it.Mike manages to rebuild Boo's destroyed door, and with Sully's last piece they can open in and Sully goes in. That is the final scene. You don't see Boo in it.Mike manages to rebuild Boo's destroyed door, and with Sully's last piece they can open in and Sully goes in. That is the final scene. You don't see Boo in it.Mike manages to rebuild Boo's destroyed door, and with Sully's last piece they can open in and Sully goes in. That is the final scene. You don't see Boo in it.Mike manages to rebuild Boo's destroyed door, and with Sully's last piece they can open in and Sully goes in. That is the final scene. You don't see Boo in it.
Are you allowed to look at your grandmothers will if you are not a trustee?
Once it goes into probate, it becomes public record, and anyone can look at it.
What is the resolution of Artemis the arctic incident?
Artemis manages to trick theRussians into releasing his father, and then he goes home.
How long does a trustee's sale last before eviction starts?
what is the timeline from when payments are missed to when a home goes to auction?
What are the rules during the trustee period?
No RumNo buying/selling landWork your landNo slavesland goes to men only
