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What else can I help you with?
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 a trust be named as the beneficiary of a certificate of deposit (CD)?
Yes, a trust can be named as the beneficiary of a certificate of deposit (CD).
How does FDIC insurance work for trust accounts?
FDIC insurance for trust accounts works by providing coverage for each beneficiary named in the trust, up to the maximum limit per beneficiary. This means that each beneficiary is insured separately, potentially increasing the total coverage for the trust account.
Can a spendthrift trust be used to purchase property?
Yes, a spendthrift trust can be used to purchase property. The trust holds assets for the benefit of a beneficiary while protecting those assets from the beneficiary's creditors and from the beneficiary's own financial mismanagement. The trustee can acquire property on behalf of the trust, and the property will be owned by the trust rather than the beneficiary directly, ensuring it remains protected under the terms of the spendthrift provision.
How does a beneficiary access funds from a trust?
A beneficiary can access funds from a trust by following the instructions outlined in the trust document, which may involve submitting a request to the trustee and providing any necessary documentation.
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 an estate be named as a beneficiary in a will or trust?
Yes, an estate can be named as a beneficiary in a will or trust.
Can a trust property be refinanced by a sibling to pay off another in California?
Upon contract a beneficiary and secondary beneficiary are chosen. A sibling can refinance only if their name is initially included on the trust property's contract. If they are not secondary beneficiary, it is very difficult but not impossible if primary beneficiary can not comply.
Can a trustee legally sue a beneficiary in a trust dispute?
Yes, a trustee can legally sue a beneficiary in a trust dispute if there is a valid reason for the lawsuit, such as breach of trust or misconduct by the beneficiary.
Can you be the sole trustee and sole beneficiary of a trust?
Yes, it is possible to be the sole trustee and sole beneficiary of a trust.
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 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 trust be named as the beneficiary of a certificate of deposit (CD)?
Yes, a trust can be named as the beneficiary of a certificate of deposit (CD).
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 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".
Can a per stirpes beneficiary be a trust?
Yes, a per stirpes beneficiary can be a trust. In this context, "per stirpes" refers to a method of distributing an estate where a beneficiary's share is passed down to their descendants if they predecease the testator. If a trust is named as a beneficiary and one of its beneficiaries passes away, the trust can distribute the inherited assets according to its terms, potentially to the deceased beneficiary's descendants.
