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Can the primary custodial parent get the financial records of a trust for the benefit of their minor children from the non-custodial parent who is the trustee?
Yes. As the custodial parent they have the right and the obligation to monitor the trust on behalf of the minor children to make certain the funds are not being wasted. If possible the parent should consult an attorney who can review the situation and explain the options. An adult beneficiary can file a motion in the court to compel an accounting by the trustee. If done properly, the custodial parent can obtain an accounting through the court also.
Trustees have wide spread control over the trust assets and many trustees mishandle those assets. Their activities should always be open to inspection. If they refuse the beneficiaries can ask a court to remove the trustee and appoint a successor.
Also, if the trust was created in a will the custodial parent can visit the probate court and request to see the file. There would be inventories for the estate and for the trust in the file which would provide a snapshot of the trust assets at the time of the donors death.
Yes. As the custodial parent they have the right and the obligation to monitor the trust on behalf of the minor children to make certain the funds are not being wasted. If possible the parent should consult an attorney who can review the situation and explain the options. An adult beneficiary can file a motion in the court to compel an accounting by the trustee. If done properly, the custodial parent can obtain an accounting through the court also.
Trustees have wide spread control over the trust assets and many trustees mishandle those assets. Their activities should always be open to inspection. If they refuse the beneficiaries can ask a court to remove the trustee and appoint a successor.
Also, if the trust was created in a will the custodial parent can visit the probate court and request to see the file. There would be inventories for the estate and for the trust in the file which would provide a snapshot of the trust assets at the time of the donors death.
Yes. As the custodial parent they have the right and the obligation to monitor the trust on behalf of the minor children to make certain the funds are not being wasted. If possible the parent should consult an attorney who can review the situation and explain the options. An adult beneficiary can file a motion in the court to compel an accounting by the trustee. If done properly, the custodial parent can obtain an accounting through the court also.
Trustees have wide spread control over the trust assets and many trustees mishandle those assets. Their activities should always be open to inspection. If they refuse the beneficiaries can ask a court to remove the trustee and appoint a successor.
Also, if the trust was created in a will the custodial parent can visit the probate court and request to see the file. There would be inventories for the estate and for the trust in the file which would provide a snapshot of the trust assets at the time of the donors death.
Yes. As the custodial parent they have the right and the obligation to monitor the trust on behalf of the minor children to make certain the funds are not being wasted. If possible the parent should consult an attorney who can review the situation and explain the options. An adult beneficiary can file a motion in the court to compel an accounting by the trustee. If done properly, the custodial parent can obtain an accounting through the court also.
Trustees have wide spread control over the trust assets and many trustees mishandle those assets. Their activities should always be open to inspection. If they refuse the beneficiaries can ask a court to remove the trustee and appoint a successor.
Also, if the trust was created in a will the custodial parent can visit the probate court and request to see the file. There would be inventories for the estate and for the trust in the file which would provide a snapshot of the trust assets at the time of the donors death.
What else can I help you with?
Noncustodial parent gets ssi can custodial parent get social security child support?
Yes. If the child's RSDI benefit is based on the obligor's SSA account, it is considered child support. If that benefit exceeds the amount ordered for child support, the obligor does not owe any additional payment.
What is a custodial account?
A custodial account is an account set up by an adult to benefit a minor.
If the noncustodial parent lives with his parents what are the chances he will get joint custody?
Should not affect it, and besides, it's for the kids benefit.
What is the Sidney Crosby Foundation about?
His foundation was created in 2009. The foundation provides financial support to charities that benefit the communities of Nova Scotia, particularly charities that benefit children.
What is the Sidney Crosby foundation?
His foundation was created in 2009. The foundation provides financial support to charities that benefit the communities of Nova Scotia, particularly charities that benefit children.
What are the key differences between a custodial account and a trust, and how do they impact the management and distribution of assets?
A custodial account is a financial account managed by an adult for a minor, while a trust is a legal arrangement where assets are managed by a trustee for the benefit of beneficiaries. Custodial accounts are simpler and have fewer restrictions, while trusts offer more control and flexibility in managing and distributing assets. Trusts can also provide more protection and tax benefits compared to custodial accounts.
Your kids grandfather had a policy and they were one of his beneficiaries and you think that their non custodial father has received their money what can you do to find out?
If the children are the primary beneficiaries and they are under 18, then the company is required to hold the benefit money for them until they turn 18. This is federal law and there is nothing else that can be done to access that benefit.
I am getting child support from my non custodial parent can he deduct my ssi benefit from the support amount that he has to give me?
No he can not.
If the custodial parent decides to work part time can the child support amount be increased based on income?
zit would depend on what state you live in, but typically, child support would not increase if the custodial parent decided to stop working full time and began working part time, unless it was shown to be for the sole benefit of the children
Is asking the noncustodial parent for life insurance in which the particular child is the sole beneficiary a typical child support negotiation request?
Usually no, you can ask for a trust to be set up in the event that the non custodial parent dies, but you can not require a life insurance policy to be created with the child as the sole beneficiary. In this case, the non-custodial parent can choose anyone they want to. If you are worried about the noncustodial parent dying, I would suggest asking for a trust to be set up. he/she is not required to do it, as I have never heard of a court requiring that.Another PerspectiveLife insurance is usually made a part of separation agreements when the parents are represented by competent counsel. It is not unusual at all for custodial parents to be concerned that life insurance be maintained with the custodial parent or child being the beneficiary. Even if the parents divorce, the child should enjoy the benefits of having two parents since they brought her into the world and are responsible for her support. Whenever possible a minor child should have the benefit of life insurance to pay for support and education expenses in case either parent dies unexpectedly.
How do financial markets benefit society?
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Why are they having a benefit concert for Michael amante's children?
it is common knowledge that this is warranted because michaels wifes illness caused a financial burden. this concert will help his children. it is an acceptable way to try to help.
