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Is a beneficiary required to accept any form of payment the trustee mandates from an trust?
You need to review the terms of the particular trust to determine how the beneficiaries are to be paid.
You need to review the terms of the particular trust to determine how the beneficiaries are to be paid.
You need to review the terms of the particular trust to determine how the beneficiaries are to be paid.
You need to review the terms of the particular trust to determine how the beneficiaries are to be paid.
What else can I help you with?
Can there be a trustee and beneficiary to an irrevocable trust?
A trustee and a beneficiary are essential to a trust. Without a trustee and a beneficiary there is no valid trust. They should not be the same person.
Who pays when a transfer is complete trustee or beneficiary?
In a completed transfer, the payment typically comes from the trust's assets, which are managed by the trustee. The trustee is responsible for ensuring that the terms of the trust are fulfilled, including making distributions to beneficiaries as specified in the trust document. Therefore, it is ultimately the trust that pays, not the trustee or beneficiary personally.
Can the trustee and beneficiary be the same person in case of private trust?
If there is (1) more than one trustee; and, (2) the trustee-beneficiary cannot act as trustee unilaterally; and (3) the other trustee is not a beneficiary of the trust, yes. If the the trustee is also designated the beneficiary, the trust fails as illusory.
After Bankruptcy discharge you were named as a beneficiary to a life insurance annuity but you deferred payment for 5 years Do you have to tell the trustee about this?
yes
Can you be the sole trustee and sole beneficiary of a trust?
Yes, it is possible to be the sole trustee and sole beneficiary of a trust.
Is the banklender the trustee trustor or beneficiary?
The lender is the beneficiary. The borrower is the trustor and the third party working for the lender is the trustee.
Can the same person be both the beneficiary and the trustee of a blind trust?
No. The trustee has full control over the assets in the trust. In a 'blind trust' the trustee must be completely independent. If the beneficiary is the trustee then the trustee is not completely independent.
Who pay the trustee?
its a trust or a beneficiary.
Can a trustee legally sue a beneficiary in a trust dispute?
Yes, a trustee can legally sue a beneficiary in a trust dispute if there is a valid reason for the lawsuit, such as breach of trust or misconduct by the beneficiary.
What action do the beneficiary's of a land trust need to do when the trustee dies?
Determine who is the successor trustee
When a trustee dies does the beneficiary of the trust get notified of what is in the trust?
Not necessarily, another trustee will be appointed.
Can a trustee sue a Beneficiary of a trust?
Since a beneficiary has no fiduciary responsibility to the trustee it is unlikely the trustee would encounter a situation where she would need to sue a beneficiary unless perhaps the beneficiary had stolen or damaged trust property. In that case a suit could be brought in the appropriate court. More common are suits by the beneficiaries against the trustee.
