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My Father/Grandfather (Grandparents adopted grandchildren) had trust funds made for us. He died in 1994. Will not probated by his son( my brother/ father). Said he was trustee of funds. Now he( brother/father) has passed. Current wife is not probating will. Our brother/father said he used a separate attorney to set up trust funds for us. We have no paper work, only word of mouth. If they exist, how can we find them?
Trust Funds, is the plural of trust fund. "Trust funds" is already plural.
Yes, the IRS can place a levy on funds that are held in a family trust. However, they usually only place liens on this type of account as a last resort.
You need to review the provisions of the trust to determine how it operates.
Yes. There is a lot of work involved in being a trustee. The trustee needs to keep an account of all the money coming into the trust and all the money going out. The trustee must be extremely careful to not co-mingle their own funds with the funds of the trust or pay any of their own bills with trust funds. The account books for the trust should be made available to the trustor and the beneficiaries of the trust.
Trust is entity that owns the mutual funds.
Funds that are held in trust are under the complete control of the trustee. The provisions of the trust dictate how the trustee will manage those funds. You need to review the terms of the trust with the trustee and determine how and if the funds can be accessed. If the terms of the trust are insufficient or there is no provision under which the trust property can be accessed then a court of equity has the power to modify the trust. You may need to seek the advice of an attorney who is familiar with trust law in your state.
Whether or not a trust can invest in mutual funds depends on the type of trust and the provisions in the trust document that discuss trustee powers.
Which trust receive such funds? Drgnlibra0940 Which trust receive such funds? Drgnlibra0940
Fidere in fratrem tuum = to trust in your brother Fide in fratrem tuum = trust in your brother (command)
If there are no funds with which to pay the debts of the trust then the property must be sold in order to pay them.
No.