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When a revocable living trust becomes irrevocable at death can the sucessor trustees be changed by the current trustee?
Yes, if that power was granted in the trust instrument.
How does a beneficiary in a irrevocable trust remove a trustee from property?
They must review the trust document to determine how trustees can be removed and replaced.They must review the trust document to determine how trustees can be removed and replaced.They must review the trust document to determine how trustees can be removed and replaced.They must review the trust document to determine how trustees can be removed and replaced.
Do trustees hold legal titles to trust assets?
Yes. A trust is set up for the purpose of enabling the legal title of the trust property to be held by the trustees. The trustees have the legal power to deal with the trust property according to the provisions set forth in the trust document only.
After the original settler of the trust appointed two trustees then died can the two trustees appoint a third trustee?
Typically, the power to appoint a trustee would have been granted by the settlor in the trust instrument. If the trust instrument allows for the remaining trustees to appoint a third trustee, then they would be able to do so. It is important to review the specific terms of the trust document to determine the trustees' authority in this situation.
What documents are required for registering an NGO as a Trust in India?
For registering an NGO as a Trust, the following documents are typically required: Trust Deed: The main instrument of the trust which includes details about the trustees and the objectives of the trust. Proof of Registered Office Address: Address proof of the registered office of the trust. Identification Documents of Trustees: Copies of PAN cards and address proofs of the trustees. Photographs: Recent passport-sized photographs of the trustees.
Can the surviving Trustor change the Co-Trustees of the decedent Trustor's trust?
The trust document dictates the provisions of the trust. You need to review the trust document to determine if and how successor trustees may be appointed.The trust document dictates the provisions of the trust. You need to review the trust document to determine if and how successor trustees may be appointed.The trust document dictates the provisions of the trust. You need to review the trust document to determine if and how successor trustees may be appointed.The trust document dictates the provisions of the trust. You need to review the trust document to determine if and how successor trustees may be appointed.
Based on New York state law can an irrevocable trust have co trustees or is only one trustee permitted?
There can be two trustees, depends on the wording of the trust.
What is the minimum number of trustees required for trust registration in India?
In India, a trust can be registered with a minimum of two trustees. However, there is no maximum limit on the number of trustees, but it is recommended to have a manageable number for efficient decision-making and governance.
What is a group of companies run by trustees?
It is known as a Trust.
How do i find out if I am named in a trust?
Ask one of the trustees.
How many trustees should a family trust have?
boo
Is a living trust taxable?
Income of a living trust is taxable to the trustees, if that's what you mean.
