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In some cases a testator sets up a trust in her will. That type of trust is called a testamentary trust. Some trusts can go on forever especially with a very wealthy testator who wants to maintain control over her estate even after death. In some cases a trust is established by the testator when there are devisees who are minors, spendthrifts or under some handicap. The trust is treated separately from the probate of the will. An executor is appointed to distribute the property according to the will. If a testamentary trust is set forth in the will, the named property goes to the trust and a trustee is appointed to administer the property according to the terms of the trust. The powers of the trustee are set forth in the will.
What else can I help you with?
Can a beneficiary stop the sale of a house?
A court appointed executor has the power to sell the real estate if the power to sell real estate was granted in the will or by a license of the court. If the beneficiary is the sole beneficiary and the proceeds from the sale of the real estate are not needed to pay debts then the beneficiary may be able to obtain a ruling from the court against the selling of the real estate.
What happens if both primary and secondary beneficiary die. Second beneficiary had approved power of attorney to another sibling - what happens then?
A Power of Attorney expires when the principal dies.As for the other queries about what happens when a beneficiary dies you haven't explained what type of beneficiary: life insurance, estate or trust?A Power of Attorney expires when the principal dies.As for the other queries about what happens when a beneficiary dies you haven't explained what type of beneficiary: life insurance, estate or trust?A Power of Attorney expires when the principal dies.As for the other queries about what happens when a beneficiary dies you haven't explained what type of beneficiary: life insurance, estate or trust?A Power of Attorney expires when the principal dies.As for the other queries about what happens when a beneficiary dies you haven't explained what type of beneficiary: life insurance, estate or trust?
Can an estate be named as a beneficiary in a will or trust?
Yes, an estate can be named as a beneficiary in a will or trust.
Is the power of attorney entitled to a percentage of the estate?
A power of attorney has absolutely nothing to do with an estate. All power of attorneys expire on the death of the grantor.
Is an executor of a will able to handle the estate of a beificiary?
No. If the beneficiary dies their estate must be probated in a separate action.No. If the beneficiary dies their estate must be probated in a separate action.No. If the beneficiary dies their estate must be probated in a separate action.No. If the beneficiary dies their estate must be probated in a separate action.
Can a beneficiary sell the estate?
A beneficiary does not have the right to sell the estate. Only the executor can sell property.
What happens is a beneficiary die's but there are other beneificiaries before an estate is settled?
The beneficiary's share goes into their own estate.
How does a beneficiary know if he has to add this money to an estate?
The only reason a beneficiary would add money to an estate would be if they owed money to the estate at the death of the deceased.
What type of tax is levied on the beneficiary share of an estate?
The type of tax that is levied on the beneficiary share of an estate is known as inheritance tax. This will be assessed based on the legacies the beneficiary receives.
Can a beneficiary be an administrator of an estate?
Yes.
Can an estate be a contingent beneficiary?
Yes.
Is money received as a beneficiary from an estate taxable?
Money received as a beneficiary from an estate is not considered taxable. Money that is left on behalf of an estate is an inheritance and is considered to be tax free.
