Property that will become trust property must be transferred by the legal owner to the trust. Bank accounts can be reopened in the name of the trust and its trustee. Real property must be transferred by deed from the the record owner to the trustee of the trust. Since a trustee is the agent with the power to act for the trust, real property transfers should be made to the trustee. For example, a deed should recite the grantee in this form: Julia Roberts, as Trustee of the Pretty Woman Realty Trust dated 3/23/1990. Since the trustee will have full power to control the trust property it is essential to choose a trustee whom you have deemed to be completely "trustworthy".
Can an irrevocable trust be changed or a new one created if never funded; without beneficiary consent?
During the life of the trustor.
The insurance plan is self-funded.
Self-funded health insurance plans are funded by the employer or organization offering the plan, while fully-funded health insurance plans are funded by insurance companies. In self-funded plans, the employer assumes the financial risk for providing healthcare benefits, while in fully-funded plans, the insurance company assumes the risk.
The key difference between insurance and self-funded healthcare plans is in how they are funded. Insurance plans are funded by premiums paid by individuals or employers, while self-funded plans are funded directly by the employer. In insurance plans, the risk is transferred to the insurance company, while in self-funded plans, the employer assumes the risk.
yes
Can an irrevocable trust be changed or a new one created if never funded; without beneficiary consent?
During the life of the trustor.
It all depends on what the documents state. I notice you said a Trust. Was this a grantor trust? was it completely funded with the grantor's (the deceased) assets? Is the home in the name of the trust. There may be a provision in the Trust, if the trust was the owner of the property, that allows the sale of the property with proceeds added to the residue of the trust. However, if the trust was not properly executed and funded and the property was still in the name of the decedent then you may have to wait until the probate process is over or meet with all heirs and your probate attorney as they can guide you through that process. Usually with a completely funded grantor trust the estate avoids the probate process and goes by the guidelines set forth by the trust, however it sounds as if this trust was not properly funded and the property was not placed in the trust.
i think by england. but don't trust me on that one.
Dogs Trust is a canine rehoming/rescue centre which is funded entirely by donations.
It depends on the creator of it. Some have it setup to create a trust on death...others have both. I have one trust I used more for investment reasons...but will have another that is death spefiic rollover only.... via a rollover will. The investment trust is the real trust, the created-by-death one will terminate immediately when it has zero assets. Ie; the death one wont exist till its funded at death. The other will already exiswted for variety of reasons.
You are just the guardian. You own nothing.
Usually a revocable trust takes precedence over a will when it comes to distributing assets. Assets held in a trust don't typically go through probate, unlike those held in a will. However, it's essential to ensure that the trust is properly funded and that the terms of both the will and the trust are aligned to avoid conflicts.
If you created and funded the trust & If your daughter is your 'successor trustee' she normally can not overrule you unless you become incapacitated.
You need to look to the language of the trust to determine how it can be terminated. Review the trust document. If there is no provision for voluntary termination then you may need to get a judicial order to terminate it.
ABC - funded by university grant.Harvard Mark I - funded by IBM and US Navy.ENIAC - funded by US Army.SSEC - funded by IBM.EDSAC - funded by university grant & Lyons.LEO - funded by Lyons (a british cookie and tea company).EDVAC - funded by US Army.IAS - funded by university grant.UNIVAC I - funded by Remington Rand.