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A trustee has only the powers that are provided in a trust instrument. Since a Q Tip Trust is created in a will by a testator who desires to preserve the trust property for his children, it is doubtful a testator would grant the power to dissolve the trust to the trustee. Therefore, if the will did not specifically grant that power to the trustee the answer to your question is no.
What else can I help you with?
What is a sole residual beneficiary?
The residuary estate is everything not specificallymentioned as gifts. The sole residual beneficiary is that person named in the Will to receive the residuary estate.
Are certificates of Deposit part of the residuary estate?
They are a part of the estate. Whether they are residual or not will depend on whether the CDs have a beneficiary named on them or are specifically left to someone.
What does residuary mean in a will?
Residuary in a will refers to the portion of the deceased person's estate that remains after specific gifts, debts, and taxes have been settled. This portion is typically distributed to the residual beneficiaries as outlined in the will.
How long does a trustee have to distribute final payment to beneficiaries after expenses are all paid?
Here in AZ. The first meeting we were given copy of trust and the deed to what was stated ours. No list of assets, only residual interest given to (sibling> Trustee & beneficiary Not any revelation as to money, gold, properties, insurance. Nothing, then "G. D." (Gold Digger) was gone. G. D. Has more than enough to pay. No debt.
In California when equal shares of the residual of an estate is left by right of representation to three beneficiaries is it still necessary to specify percentages?
Yes, it should be noted in the will the exact share that each person is to receive.
Is cash found in the home of the decedent considered property and should go to the person that gets the residual property Or should it go to those beneficiaries that are splitting the bank accounts?
It should go into the estate to be distributed appropriately. The executor will submit the plan to the court for approval.
What is a residual lake?
Lakes which are made by residual rocks which are left after weathering and erosion and form the residual lakes.
What recourse does a beneficiary have when the Executor gives away all significant belongings before the beneficiary has an opportunity to choose something?
Plenty... there is a whole body of law called "Equity" that grew out of precedent and became formalized in the UK, to protect the rights of beneficiaries, especially minors, incompetents and family members where there is no will written, or in contested wills and such. The law of many countries seem to follow English law on most general issues. To answer your question more specifically, are you a named beneficiary of the will, and are the items listed in the will per se? Are the items gifted to anyone specifically in the will, if not the items in question would presumably become what is known as residuary items and usually the residual items are proportionately spread amongst the multiple beneficiaries or given to the only beneficiary. Note however that in the calculation of the residual items, monies must first be deducted for estate taxes, debts, fees and expenses of the administration. If no money is available, personal items such as paintings, furniture etc could be sold to pay the estate's expenses. Any grievance on your part should be documented at the first opportunity and in the US you could discuss this and document your grievance with the District Attorney, or taken to a family or probate court (in USA) or in England to chancellory court. If the executor has taken action but say only after many years (eg 5 years after the death of the settlor), your case would be weaker. If the executor acted in concert with the other executors your case would be weaker. If the executor did this action without contacting any beneficiaries, your case becomes much stronger. If the executor gave items to non-family persons, and you are family, your case becomes strong. If the executor gave items to family members who are equal to yourself in relationship to the deceased settlor, (eg. you are one of many children) your case is still a good one, as you should have participated in the sharing.
Should you deduct resale value of an asset when calculating straight line depreciation?
Yes you should. That is also known as the residual value and you would minus that from cost and divide by the useful economic lifetime if the asset.
What is a residual haunting?
A residual haunting is a playback of a past event.
What is Urnex Cleancaf used for?
The buildup of residual coffee oils in your coffee machine can be easily removed with the use of Urnex Cleancaf. Simply dissolve Urnex powder in clean water and use it to run through the machine.
Who does Residual income of a firm belongs to?
The residual income of the firm belongs to
