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What happens if HOA only has 2 trustees and one does not obey by-laws?
There is no way to predict the future of the association, given your accusations. As an owner, you can identify actions taken by trustees that are in violation of your governing documents, and bring them to the attention of the community. Finding other owners who believe that -- because of the actions of the trustees, your real estate has lost value -- the trustees must be replaced, you can affect this change as written in your governing documents to remove them. Finally, you may want to amend your governing documents to change the number of trustees to an odd number, so that ties in votes are automatically avoided.
Who has access to a safety deposit box upon death of owner?
The executors and trustees of the estate.
Can there be multiple trustees on an irrevocable living trust?
Yes. The trust can name any number of trustees and if there is more than one it must state whether the trustees must all execute any documents together or have the power to sign documents independently.
What has the author Edward C Halbach written?
Edward C. Halbach has written: 'Halbach on uniform acts, restatements & significant trends in estate and trust law' -- subject(s): Trusts and trustees, Probate law and practice 'Edward C. Halbach, Jr. on income taxation of estates, trusts, and beneficiaries' -- subject(s): Trusts and trustees, Law and legislation, Taxation, Inheritance and transfer tax 'Trusts in estate planning' -- subject(s): Trusts and trustees, Estate planning 'Halbach on recurring deficiencies in drafting wills and trusts' -- subject(s): Wills, Estate planning, Trusts and trustees
Does a life insurance beneficiary have to disclose dollar amount to trustees of estate?
If the beneficiary of a life insurance policy was an individual person then it is not included in the assets of an estate unless the policy was purchased within three years from the date of death. This could vary from state to state and from time to time. I would not say that you shouldn't cooperate with the trustees of the estate and to give them information they request. If however they ask you to pay any taxes or legal fees that is the time when I would no longer cooperate. I would make it clear that you have no desire for obligation for legal fees or taxes and that you are not subject to such.
What has the author Richard E Barnes written?
Richard E. Barnes has written: 'Estate planning for blended families' -- subject(s): Trusts and trustees, Estate planning
What has the author Jerome A Manning written?
Jerome A. Manning has written: 'Estate planning' -- subject(s): Estate planning, Trusts and trustees, Law and legislation, Inheritance and transfer tax
What has the author Aryeh Guttenberg written?
Aryeh Guttenberg has written: 'Maryland estate planning, wills, and trusts library' -- subject(s): Forms, Wills, Estate planning, Trusts and trustees
What kind of estate establishes the ownership of property for only the life of the owner?
A Life Estate provides the right to the use and sole possession of real estate for the life of the life tenant.A Life Estate provides the right to the use and sole possession of real estate for the life of the life tenant.A Life Estate provides the right to the use and sole possession of real estate for the life of the life tenant.A Life Estate provides the right to the use and sole possession of real estate for the life of the life tenant.
What has the author Deborah L Jacobs written?
Deborah L. Jacobs has written: 'Estate planning smarts' -- subject(s): Estate planning, Trusts and trustees, Popular works, Tax planning
Do co-trustee names have to be on the quitclaim to transfer property out of a family trust?
Yes. A trust can only act through its trustees. The trust document should always be drafted by an attorney who specializes in trust law in your jurisdiction. The trustees must have the power to transfer real estate clearly expressed in the trust document. They should be listed in the deed as the grantor and as the trustees of the particular trust. They must sign the deed as trustees. Trust law is extremely complicated and actions involving real estate should be supervised by an attorney. Errors made by non-professionals can be costly to correct.
Who own assets after someone dies but before the assets are transferred to the heirs via a will?
The assets of an estate are held by the trustees of the estate. After all debts and testamentary dispositions have been satisfied the residue may be distributed
