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Money held in trust refers to funds that are managed by a trustee on behalf of a beneficiary, according to specific terms outlined in a trust agreement. The trustee is responsible for safeguarding the money and ensuring it is used for the intended purpose, such as supporting the beneficiary's needs or fulfilling certain conditions. This arrangement provides legal protection for the funds and ensures they are used as intended.
What else can I help you with?
Can a trust lend money to a beneficiary to buy a house even though the trust usually distributes income to the beneficiary at year end?
You need to review the terms of the trust. The instrument that created the trust sets forth all the powers of the trustee. You need to determine if the trustee has the power to loan money from the funds held in trust.
What does itf mean in a check?
It means In Trust For, the name/person to which the money will go to, if the primary person dies.
Can a trustee get a loan on the property held in trust to pay off heirs?
Trustee is not the owner of the property and hence he will have no right to sell the property held under trust.
If one left company with money in 401k can it be retrieved years later?
Yes, those monies are held in a trust company for your benefit only. You're the only person who can access them.
Where can you put your money in?
A bank account, savings account, or family trust fund are a few options, it depends what you mean when you say 'in'.
What does 'Mammon' mean?
The word "mammon" means wealth, or greed associated with wealth, at least in Biblical terms. In German, the word means money. In Arabic, it can mean financial trust held for someone else.
What does in trust mean on a check?
"In trust" on a check indicates that the funds are to be held in a fiduciary capacity for a specific purpose or beneficiary. This means the money is not for the payee's personal use but is intended to be managed or disbursed according to the trust's terms. It signifies a legal obligation to act in the best interest of the beneficiary.
Who has the legal title of the property in a trust?
Trust property.The title to the trust property is held by the trustee.Trust property.The title to the trust property is held by the trustee.Trust property.The title to the trust property is held by the trustee.Trust property.The title to the trust property is held by the trustee.
Can a trust lend money to a beneficiary to buy a house even though the trust usually distributes income to the beneficiary at year end?
You need to review the terms of the trust. The instrument that created the trust sets forth all the powers of the trustee. You need to determine if the trustee has the power to loan money from the funds held in trust.
What is a in trust for account?
When money or funds are in trust in an account, they are typically being held for one party and handled by another. It is a way to control and convey assets for a third-party owner.
What term applies to the embezzlement of money held in trust?
The term that applies to the embezzlement of money held in trust is "trust theft" or "fiduciary theft." This refers to the illegal act of misappropriating funds or assets that have been entrusted to someone's care, such as a trustee or executor. Trust theft typically involves a breach of fiduciary duty and is considered a serious financial crime.
What is the beneficiary in a trust?
the beneficiary in a trust is the person whom benefits from that which is held in trust.
Am you Old Enough To Be On A Movie you are 12?
Yes, you can be in a movie at 12, but the laws are different for minors. A percentage of your money will be held in trust for you until you are 18.
Can property held in a trust be seized by a court order?
Yes. There are circumstances whereby a court can order the transfer of property held in a trust.
What actors and actresses appeared in Held in Trust - 1986?
The cast of Held in Trust - 1986 includes: Diana Rigg as Herself - Presenter
Can a name be added to living trust property?
No. The property in a trust is held in the name of the trustee of the trust. It may be possible to amend the trust to include another trustee. Such actions should be done by an attorney.No. The property in a trust is held in the name of the trustee of the trust. It may be possible to amend the trust to include another trustee. Such actions should be done by an attorney.No. The property in a trust is held in the name of the trustee of the trust. It may be possible to amend the trust to include another trustee. Such actions should be done by an attorney.No. The property in a trust is held in the name of the trustee of the trust. It may be possible to amend the trust to include another trustee. Such actions should be done by an attorney.
What does itf mean in a check?
It means In Trust For, the name/person to which the money will go to, if the primary person dies.
