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No. The trust must be reviewed and a successor trustee appointed according to the terms set forth in the trust. If there are no provisions for appointment of a successor trustee mentioned in the trust document then the matter must be brought before a court of equity for appointment of a new trustee. The court that appointed the conservator should handle the trustee issue as well.
No. The trust must be reviewed and a successor trustee appointed according to the terms set forth in the trust. If there are no provisions for appointment of a successor trustee mentioned in the trust document then the matter must be brought before a court of equity for appointment of a new trustee. The court that appointed the conservator should handle the trustee issue as well.
No. The trust must be reviewed and a successor trustee appointed according to the terms set forth in the trust. If there are no provisions for appointment of a successor trustee mentioned in the trust document then the matter must be brought before a court of equity for appointment of a new trustee. The court that appointed the conservator should handle the trustee issue as well.
No. The trust must be reviewed and a successor trustee appointed according to the terms set forth in the trust. If there are no provisions for appointment of a successor trustee mentioned in the trust document then the matter must be brought before a court of equity for appointment of a new trustee. The court that appointed the conservator should handle the trustee issue as well.
What else can I help you with?
Is there any way to get out of a special needs trust as beneficiary?
Yes. However, you haven't provided much detail. If you are the beneficiary of a special needs trust you should consult with an attorney before you request any changes (perhaps the attorney who drafted the trust, if possible). Special needs trusts are set up for very important reasons. The following is general information. People with special needs generally receive some type of government assistance. If the person has any assets the assets must be spent on the person's upkeep before the person can be eligible for that government assistance. If you request that the trust be terminated the funds may be paid over to you and you may lose any government assistance until the former trust funds have been depleted. Any assets given to or inherited by a person with special needs are placed in a special needs trust in order to protect those assets from the situation explained above. Consult a professional who can review your situation, the trust and explain your options.
Is there a special significance in making a Special Needs Trust for a Beneficiary who is over 65 years old versus one that is under 65?
I would think that the costs would be lower for someone under 65 rather then someone who is over 65.
What did Britney do to get back on track?
She went to rehab a few times and her father now has conservator ship over her.
Financial Planning for Special Needs Children?
Managing your finances can be tough enough. When you throw kids into the mix it gets a lot more complicated. If one of those kids happens to be a special needs child, everything becomes more complex, including the financial planning involved. All children necessitate financial planning, but the complexities of planning for a special needs child go well beyond the norm. It is best to seek professional help to navigate the laws of your state. Many federal and state programs offer assistance when it comes to raising a special needs child, however you may exempt the child from certain programs if you do not plan correctly. Sometimes friends and grandparents like to help by giving financial gifts to children. In the case of special needs kids, however, this can hurt them. In many states, a special needs child who has over a specific dollar amount of money in her own name could find she is ineligible for aid that she desperately needs. One planning tool that can assist parents of special needs children is the special needs trust. These trusts are set up with an eye to the specific laws of each state and are constructed in such a way that allows money to be held in trust for the care of the child, but it doesn’t make them ineligible for other aid programs. If you have a special needs child I highly recommend you find a local specialist in special needs trusts that can help you navigate this complex area of financial planning. Check with local law offices and trust companies. Find out who deals in this niche. Don’t go with just anyone, either. The wrong choices could leave your child without recourse they would otherwise have. This is not an area you want to handle in a DIY fashion.
Does a conservator have more power that a poa?
The court appointment of a conservator would extinguishany power previously granted under a power of attorney. The conservator would have full authority over the estate of the conservatee or protected person.
Can you take your brother out of a group home if he is a ward of the state without going to court if he is over 18 in the state of Missouri?
No. You should consult with an attorney who specializes in custody and special needs issues. If your brother has special needs the state's authority over him does not end at age eighteen.
Can you get custody of your aunt who has special needs?
Yes you can depending on the circumstances and the situation.Added: You must petition the court to grant you a GUARDIANSHIP over her.
What goes in a revocable trust?
If you mean what property can be transferred to a revocable trust the answer is any property real or personal. However, the degree of protection provided by a trust depends on the type of trust. Since a trustor of a revocable trust retains a significant amount of control over the trust property that type of trust does not protect assets as well as a irrevocable trust can. The most common property transferred to a trust is real property. Assets such as actively used bank accounts (savings and checking) should not be placed in trust. Classic cars, costly jewelry, valuable coin collections, etc., can be transferred to a trust in order to remove them from the owners estate. Special needs trusts must be utilized to keep assets separate from individuals who depend on government benefits. If you are considering the transfer of your property to a trust you should speak with an attorney who specializes in trusts to determine what type of trust will meet your needs and expectations. Trust law is very complicated. Trusts should always be drafted by a professional who can review your situation, explain your options and draft a trust that will meet your needs and legal standards.
If your home is in a living trust is it protected form creditors and the IRS?
If the trust is properly drafted the property can be removed from your estate entirely. However, the trust must be drafted by an expert in trust law. If the grantor retains any power over the trust property, it will be vulnerable to creditors and taxation. You need to consult with an attorney with a great reputation who is an expert in trust law. She/he can review your situation, your needs and explain your options.
Can one remarry the same person after a divorce where a conservator has been put over x spouse?
Yes you can, consult your lawyer. Laws differ from countries to countries.
What is a good sentence with the word trust in it?
My friend apologized over and over, but she had already lost my trust.
What is the difference between guardian and conservator?
The answer to this question depends on the laws of the state in which the guardian or conservator is appointed. In some states there is a significant difference. In others the terms may be used virtually interchangeably. In still other one or the other may not be used at all. In New Jersey, a statute in the probate laws taken in part from the American Law Institute's Uniform Probate Code provides for a "Conservator" in addition to the traditional Guardian. The differences lie in the degree of incapacity/incompetency of the person in need of the guardian or conservator, the powers of guardian or conservator and in the legal rights and abilities the person retains. For an adult, a guardian is appointed for a person who is unable to manage his/her own affairs and it requires proof by two physicians that the person is incapable of managing his/her affairs. The guardian has full powers over both the property and the person of the incapacitated person. The Guardian has full powers to invest, manage and sell property of the person. If the person is declared incapacitated and a guardian is appointed the person loses most of the legal abilities he or she normally has. For example that person may no longer execute a will. The guardian also has the power to make medical decisions. A conservator is appointed just on a showing that the person is in need of help in managing his/her affairs. The Conservator does not have full power over the person's property. It is limited to managing it and conserving it. If additional powers are needed the Conservator may go to court for a grant of the additional powers needed The Conservator has no powers over medical decisions unless specifically allowed by the court appointing the Conservator. The person is not declared incapacitated therefore he/she retains all legal abilities, such as the right to make a will and even the power to go to court and have the conservatorship vacated. In NJ, the Conservatorship functioned like a court created power of attorney, meaning the person still is able to manage his/her own affairs even if there is a disagreement with the judgment of the Conservator. Different states will have variations of the nature of a guardianship and a conservatorship; therefore a comprehensive statement of their differences is not possible here.
