0
The length of time a trustee can serve is typically specified in the trust document or by state laws. Many trusts have a provision that allows a trustee to serve for the duration of the trust, which can be for many years or even generations. If there is no specific term stated, a trustee may serve until they are no longer willing or able to fulfill their duties.
What else can I help you with?
How long does a person remain a trustee for a beneficiary?
The duration of a person's role as a trustee for a beneficiary can vary. It can be outlined in a trust document or decided by the terms of the trust. In some cases, a trustee may serve until the trust is terminated or until a successor trustee takes over.
Can you change a trustee in a Will?
Yes, you can change a trustee in a will by creating a new will that specifically designates a different individual or organization to serve as trustee. It's important to follow the legal procedures in your jurisdiction to ensure that the changes are valid and legally enforceable.
What is the possessive form of trustee?
The possessive form of "trustee" is "trustee's." For example, "The trustee's decision was final."
Can you refuse to be a trustee?
Yes. When a person is named as a trustee there is generally an acceptance executed by the trustee and filed with the trust. You only need to make if known you do not wish to serve and the trustor can name a different trustee.
What is substitution of trustee?
Replacing the trustee with another for some reason; maybe the trustee gets old and finds the job burdensome. There might be another trustee named in the document as authorized "..in the event first trustee resigns." I'm no lawyer, but I guess you could petition the court for a replacement trustee if you could prove the trustee was not following the lawful trust instructions or something.
How long does a person remain a trustee for a beneficiary?
The duration of a person's role as a trustee for a beneficiary can vary. It can be outlined in a trust document or decided by the terms of the trust. In some cases, a trustee may serve until the trust is terminated or until a successor trustee takes over.
in a corporate baptist church can deacon also serve as a trustee?
Q: In a corporate baptist church can deacon also serve as a trustee?
Did Grover Cleveland serve as a college president?
No, but he did serve as a trustee at Princeton University.
Decline to Serve as Trustee or Personal Representative?
Decline to Serve as Trustee or Personal Representative(Download)_________________________, who is entitled to act as the trustee or personal representative of the estate of _________________________, by virtue of ______________________, herewith declines to serve as trustee or personal representative.Dated: ____________________________________________________________________Proposed Trustee or Personal RepresentativeDecline to Serve as Trustee or Personal RepresentativeReview ListThis review list is provided to inform you about this document and assist you in its preparation. It is a perilous task to act as a trustee or personal representative in this litigious age. For that reason alone, declining to serve in these positions makes a great deal of senseunless you have a personal commitment to do so. You can modify this document to conform to other offices or positions you elect to decline to serve in.1. Make multiple copies. Send one to each relevant party. Keep one in your personal files.2. Be advised that even declining may cause you to have some legal liability should you be proven to know the “next” in line will cause harm to the parties you were appointed to serve.
Can you put your real property in the name of a minor as a trustee of a trust?
No. You must have a trust drafted by an attorney who specializes in trust law. The minor will be named the beneficiary of the trust, an adult trustee will be named in the trust and the property should be transferred to that trustee to hold for the benefit of the child. A minor cannot serve as a trustee.No. You must have a trust drafted by an attorney who specializes in trust law. The minor will be named the beneficiary of the trust, an adult trustee will be named in the trust and the property should be transferred to that trustee to hold for the benefit of the child. A minor cannot serve as a trustee.No. You must have a trust drafted by an attorney who specializes in trust law. The minor will be named the beneficiary of the trust, an adult trustee will be named in the trust and the property should be transferred to that trustee to hold for the benefit of the child. A minor cannot serve as a trustee.No. You must have a trust drafted by an attorney who specializes in trust law. The minor will be named the beneficiary of the trust, an adult trustee will be named in the trust and the property should be transferred to that trustee to hold for the benefit of the child. A minor cannot serve as a trustee.
Does a trustee have to be appointed and if so by who?
Yes, a trustee typically must be appointed to manage a trust. The appointment can be made by the person who creates the trust, known as the grantor or settlor, and is often specified in the trust document. In some cases, if no trustee is named or the appointed trustee is unable or unwilling to serve, a court may appoint a trustee.
Can you change a trustee in a Will?
Yes, you can change a trustee in a will by creating a new will that specifically designates a different individual or organization to serve as trustee. It's important to follow the legal procedures in your jurisdiction to ensure that the changes are valid and legally enforceable.
Can you sell land out of a revocable trust?
Yes, as long as the trust was properly drafted the trust property can be sold by the trustee of the trust.Yes, as long as the trust was properly drafted the trust property can be sold by the trustee of the trust.Yes, as long as the trust was properly drafted the trust property can be sold by the trustee of the trust.Yes, as long as the trust was properly drafted the trust property can be sold by the trustee of the trust.
Is it possible to get a mortgage in the name of a irrevocable trust?
It depends on the lender. Generally, as long as the trust is valid and the borrower provides a copy of the trust, and an affidavit by the trustee that the trust is in effect and they are the current trustee, the mortgage can be executed. A properly drafted mortgage from a trust would be executed in the name of the trustee as trustee of the trust.It depends on the lender. Generally, as long as the trust is valid and the borrower provides a copy of the trust, and an affidavit by the trustee that the trust is in effect and they are the current trustee, the mortgage can be executed. A properly drafted mortgage from a trust would be executed in the name of the trustee as trustee of the trust.It depends on the lender. Generally, as long as the trust is valid and the borrower provides a copy of the trust, and an affidavit by the trustee that the trust is in effect and they are the current trustee, the mortgage can be executed. A properly drafted mortgage from a trust would be executed in the name of the trustee as trustee of the trust.It depends on the lender. Generally, as long as the trust is valid and the borrower provides a copy of the trust, and an affidavit by the trustee that the trust is in effect and they are the current trustee, the mortgage can be executed. A properly drafted mortgage from a trust would be executed in the name of the trustee as trustee of the trust.
What is the possessive form of trustee?
The possessive form of "trustee" is "trustee's." For example, "The trustee's decision was final."
Can you refuse to be a trustee?
Yes. When a person is named as a trustee there is generally an acceptance executed by the trustee and filed with the trust. You only need to make if known you do not wish to serve and the trustor can name a different trustee.
How long after a trustee sale does a tenant have to vacate in california?
30 days
