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What is a HEMS trust?
A trust set up for the Health,, Education, Maintenance, and Support, usually for a minor.
What is the timing of a trust disbursement after death?
Every trust is unique to the document that created that trust. You need to review the trust document for your answer.Every trust is unique to the document that created that trust. You need to review the trust document for your answer.Every trust is unique to the document that created that trust. You need to review the trust document for your answer.Every trust is unique to the document that created that trust. You need to review the trust document for your answer.
Can a trustee change the financial make up of the irrevocable generation skipping trust for the benefit of only one beneficiaries?
The trustee has only the power that is set forth in the trust document. You should review the trust document to determine if that specific power was granted to the trustee.
Is the surviving spouse of a trusts beneficiary entitled to his share of real propert?
You must review the trust document for your answer. A trust is managed according to the provisions in the document that created the particular trust.You must review the trust document for your answer. A trust is managed according to the provisions in the document that created the particular trust.You must review the trust document for your answer. A trust is managed according to the provisions in the document that created the particular trust.You must review the trust document for your answer. A trust is managed according to the provisions in the document that created the particular trust.
Can the surviving Trustor change the Co-Trustees of the decedent Trustor's trust?
The trust document dictates the provisions of the trust. You need to review the trust document to determine if and how successor trustees may be appointed.The trust document dictates the provisions of the trust. You need to review the trust document to determine if and how successor trustees may be appointed.The trust document dictates the provisions of the trust. You need to review the trust document to determine if and how successor trustees may be appointed.The trust document dictates the provisions of the trust. You need to review the trust document to determine if and how successor trustees may be appointed.
What if a deed names a trust and another individual how is the property administered at trustor's death?
According to the provisions in the trust document. You must review it.According to the provisions in the trust document. You must review it.According to the provisions in the trust document. You must review it.According to the provisions in the trust document. You must review it.
The trust was set up for your health maintenance and support what does this mean?
It means exactly what the name implies- that funds should be spend on your to go towards your health, maintenance and support. You may want to look at the language to see if it was more specific.
Which document will stand in court A photocopy of a trust or an original?
Which document will stand in court: A photocopy or a trust or an original?
What are Hems allowances in a trust?
Hems allowances in a trust refer to certain health, education, maintenance, and support considerations that a trustee can make when distributing assets to beneficiaries. These allowances provide flexibility to the trustee in determining what types of expenses are necessary to support the beneficiary's wellbeing. The trustee has the discretion to decide how much of the trust's assets can be used under the Hems standard.
The trust beneficiaries signed a modification to drop the bank as trustee and appoint a family member as the sole trustee. Can the trustee withdraw money from the trust at any time?
You must review the document that created the trust. Every trust is managed under the provisions set forth in the trust document and that includes the powers of the trustee. You should ask for a copy of the trust and read the provisions.You must review the document that created the trust. Every trust is managed under the provisions set forth in the trust document and that includes the powers of the trustee. You should ask for a copy of the trust and read the provisions.You must review the document that created the trust. Every trust is managed under the provisions set forth in the trust document and that includes the powers of the trustee. You should ask for a copy of the trust and read the provisions.You must review the document that created the trust. Every trust is managed under the provisions set forth in the trust document and that includes the powers of the trustee. You should ask for a copy of the trust and read the provisions.
How do I sign checks as a successor trustee?
To sign checks as a successor trustee, you must first obtain a copy of the trust document that appoints you as the successor trustee. Review the document to understand your duties and responsibilities. Then, sign the checks using the format specified in the trust document, typically as "Your Name, Successor Trustee of Trust Name." Make sure to keep accurate records of all transactions and consult with legal or financial professionals if needed.
What is an FBO trust?
An FBO trust, or "For Benefit Of" trust, is a type of trust established for the benefit of a specific individual or group. It allows the grantor to designate a trustee to manage and distribute assets according to the terms set forth in the trust document. This arrangement is commonly used in estate planning to ensure that beneficiaries receive financial support while maintaining control over how assets are managed and distributed. FBO trusts can also help with tax planning and asset protection strategies.
