0
What else can I help you with?
What is ta mean in prison terms?
"TA" in prison terms is typically used to refer to a "trust account," which is an account where inmates' funds are held while incarcerated. This account can be used for purchasing items from the prison commissary, paying fines, or other personal expenses within the prison system.
Can you sue a revocable living trust?
While you can't sue the trust itself, you CAN sue the grantor (owner) of the trust, because anything that's in the trust is treated as being owned by the grantor. For instance, if you set up a revocable living trust and put all your assets in it, the trust DOES NOT protect your assets from seizure by creditors or judgments, because everything in the trust is still owned by you. The main purpose of a revocable trust is for your heirs to avoid going through probate when you die; otherwise it provides no legal protection for you or your estate. So to answer your question literally, no you can't sue the "trust", but if you're asking can someone seize money in the trust if they sue you and win, then yes, they most certainly can.
Michigan laws for living trust embezzlement by the trustee?
In Michigan, embezzlement by a trustee of a living trust would likely be considered a breach of fiduciary duty. The trustee has a legal obligation to manage the trust assets for the benefit of the beneficiaries and any misappropriation of trust funds can result in civil or criminal penalties. Beneficiaries can take legal action to recover the misappropriated funds and remove the trustee from their position.
Can an irrevocable trust be changed by the trustor?
In general, irrevocable trusts cannot be changed by the trustor once they are established. These trusts are designed to be permanent and the trust assets are no longer considered part of the trustor's estate. However, some irrevocable trusts may include provisions that allow for certain changes to be made under specific circumstances.
Who has custody of the irrevocable trust?
The assets in an irrevocable trust are legally owned by the trust itself, not by any individual. The trustee is responsible for managing the trust assets for the benefit of the trust beneficiaries as outlined in the trust agreement.
What is a trust banking account?
What is an in trust for (ITF) account?
Is a trust account a liablilty or asset?
A trust account is typically considered an asset. It holds funds or property that are managed for the benefit of a beneficiary, and the assets within the account belong to the beneficiary, not the trustee. However, from the trustee's perspective, it may also represent a liability, as they have a fiduciary duty to manage and disburse the assets according to the terms of the trust.
What is the difference between a trust and a checking account?
a trust account means you trust the person that is opening the account, and a checking account means you will keep checking it to make everything is okay.
Can a person who has power of attorney over a trust account change that account into a joint account?
no In order to change the account you must be the Grantor of the Trust.
Where can I open a trust account?
You can open a trust account at a bank or financial institution that offers trust services. These institutions have specialized departments that can help you set up and manage a trust account for your specific needs.
How cash check payable to trust?
I am fairly certain that the simple answer is, "You cannot." You must first deposit the check into the Trust Account and then disperse funds from the Trust Account via writing a check from the Trust Account. Obviously only persons authorized to transact the Trust's business may write checks off of the Trust Account. By doing this, the audit trail or "paper trail" of the Trust Account remains intact.
Can I open a trust account online?
Yes, you can open a trust account online through many financial institutions and trust companies.
What are the responsibilities of the custodian of a trust account?
The trust will state the responsibilities.
Is Myyearbook.com a safe place Can you trust them with your email account?
yes u can trust them with your e-mail account i have an account well aloaot of accounts lol
What is the concept of an emotional bank account?
It is an imaginary term generally used to describe the status of a relationship. If your emotional bank account is overdrawn, then the other person has had enough of your B.S., and will not cut you any more slack!
What is an fob trust?
FBO means "for benefit of." In banking, an FBO trust is an account typically set up as a donation account for the person whose name the account is in.
Can trust account be sued?
No. You cannot "sue" an account. You need to sue the trustee of the account. A trustee is the human representative of a trust who can act for the trust and accept service for the trust. It can be a complicated process and you may want to consult with an attorney who can review your situation and explain your options.
