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Can two people be the trustor of a trust?
No, typically there is only one trustor or settlor who creates the trust. Multiple individuals can be beneficiaries or trustees of a trust, but only one person establishes the trust and transfers assets into it.
Is a beneficiary of a trust entitled to a complete copy of the trust agreement if one of the settlers is still alive?
Yes, a beneficiary of a trust is typically entitled to a complete copy of the trust agreement, regardless of whether the settlor is alive. It is important for beneficiaries to have access to the terms of the trust in order to understand their rights and obligations under the trust.
How many settlors can a trust have?
A trust can have one or more settlors, also known as grantors or creators of the trust. There is no legal limit on the number of settlors a trust can have.
What is the difference between trust lands and reservations?
Trust lands are typically owned by a tribal government and held in trust by the federal government, while reservations are areas of land set aside for Native American tribes by the federal government. Trust lands provide a legal structure for managing and protecting the land and its resources, while reservations are more about preserving tribal sovereignty and providing designated lands for tribal communities.
Can a woman be married to more than one man?
In some cultures and legal systems, a woman can be married to more than one man simultaneously, a practice known as polyandry. However, this is less common than polygyny (one man having multiple wives) and is not widely accepted in most societies.
Can two people be the trustor of a trust?
No, typically there is only one trustor or settlor who creates the trust. Multiple individuals can be beneficiaries or trustees of a trust, but only one person establishes the trust and transfers assets into it.
Who declares in a trust if the settlor has disability?
If the settlor doesn't have the legal capacity to declare a trust then she/he doesn't have the capacity to transfer their property to the trust. Trust law is one of the most complex areas of law and the rules vary from state to state. Errors made in the drafting of a trust can be very costly to correct if they can be corrected at all. You should consult with an attorney who is an expert in trust law and who has a good reputation.
What is a non revocable trust fund?
An irrevocable trust is one in which the settlor (or creator) of the trust does not retain any control of the trust, and thus the trust cannot be amended. The reason that an individual would chose to create an irrevocable rather than revocable trust is that the money cannot be touched by creditors or anyone else. There are also money-saving benefits to the creation of an irrevocable trust primarily relating to probate fees and taxes.
Is a beneficiary of a trust entitled to a complete copy of the trust agreement if one of the settlers is still alive?
Yes, a beneficiary of a trust is typically entitled to a complete copy of the trust agreement, regardless of whether the settlor is alive. It is important for beneficiaries to have access to the terms of the trust in order to understand their rights and obligations under the trust.
Who appoints the trustee for the irrevocable trust?
The person who creates the irrevocable trust is the one who appoints the trustee, because it is his or her trust. It is similar to the right of a person to name an executor in a will. The creator of the trust, sometimes called the settlor, has the right to choose a person he trusts (hence the name "trustee") to handle the property in the trust and to carry out the terms of the trust. In the event that the trustee(s) named in the trust instrument are unable for any reason to perform their duties, the named successor trustee will assume the duties. If no successor is named the probate court can appoint one.
Can you give a user on WikiAnswers more than 1 trust point?
One Time OnlyNo, you cannot. You can only give each contributor one trust point.
How do you tell if he wants more than friends?
have your friend ask one of his friends. it WORKSS trust me.
Is it possible for you to have more than one crush?
'course, but never say so (trust me, i know)
You trust no one?
If you can't trust anyone, then a relationship more than likely will not work. If your partner said that he or she cannot trust you and is not willing to work on this, it is probably time to end that relationship.
Does a new living trust superseed an old living trust?
Not necessarily. Sometimes people have more than one living trust. It depends on what the new trust says and how your assets are titled. Consult an attorney.
What is an offshore trust?
The concept of a trust is an arrangement whereby property is transferred from one person (the Settlor) to another person (the Trustee) who holds the property for the benefit of specific people (the Beneficiaries). A Trust Deed sets out the terms and conditions under which the Trustees hold the trust assets. It also outlines the rights of the Beneficiaries. A trust is not dissimilar to a will except that assets are transferred to trustees during lifetime rather than assets being transferred to executors on death. The Trust Deed is comparable to the will. Those unfamiliar with the trust concept may be concerned about transferring ownership of their property to a Trustee. This concern can be alleviated if the distinction between legal and beneficial ownership is properly understood and the trust is governed by sound law enforced in a reputable jurisdiction. See http://www.sovereigngroup.com/our-services/trust-services/introduction.htm for more details.
Can there be more than one trustee of a trust?
Yes, a trust can have multiple trustees. Having more than one trustee can provide a checks-and-balances system, allowing them to collaborate in managing the trust's assets and making decisions. However, it’s important to clearly outline the roles, responsibilities, and decision-making processes for each trustee in the trust document to avoid potential conflicts or confusion.
