Estates

The responsibilities of any trustee are set forth in the trust instrument. A trust should always be drafted by an attorney who specializes in trust law and tax law and who will set the provisions of the trust to meet the needs of the trustor. The powers and responsibilities of the trustee(s) are set forth in the trust instrument and they have no other powers.

Personal property is any movable or intangible thing that is subject to ownership and not classified as real property. All property other than land and buildings attached to land.

As the trust is registered in the U.S.A , then the trustee should also be a U.S citizen.

That is part of their responsibility, to notify the heirs. They have to show the court they have made very effort to do so.

If the life estate belongs to the principal, the attorney-in-fact can release it on behalf of the principal. See related question.

That means the grantor, or some other person named by the grantor, has the right to the use and possession of the property for the duration of their natural life. The life estate can only be released by the life tenant in writing or by the death of the life tenant.

A Last Will and Testament has authority and legitimacy in any jurisdiction because and only because it has been made legitimate by the laws of that jurisdiction. That is, for a Will to be considered valid in Oklahoma, it must conform to Oklahoma law. The law does not override the Will because the will has no effect without the law in the first place.

A complex estate can take many years to sort out and distribute. In California there is no set time frame for closing an estate.

A quitclaim deed conveys whatever the grantor owns. The bank would perform a title examination to make certain that the person who transferred the land to you was the sole owner. If the title examination shows that you indeed acquired the land by your deed and there are no prior liens, the bank will loan you money as long as your credit record is good.

The co-administrator of an estate has as much equal access to the estate as the administrator. If property or the estate needs to be divided, the parties will need to agree.

A Stockholder is a party (a person or group) who pays money to a corporation in return for part ownership of the corporation. A Stockholder can vote for Board Members, and can attend the corporation's annual meeting to propose and vote on governance measures. A Board Member is one of several officials elected by a corporation's Stockholders according to the terms of the corporation's bylaws. A corporation's Board meets on a regular basis to establish business policies and to oversee the management hired to operate the corporation on a day-to-day basis. A Board Member has a fiduciary duty to see that the corporation is run in the best interests of its owners, the Stockholders; in this fiduciary role, a Board Member is expected to display undivided loyalty to the Stockholders. Failure to uphold fiduciary standards is one of the most serious breaches of business law.

You need to review the language in the document that created the trust. It contains all the provisions that govern the trust property and the powers of the trustee. The trust must recite a provision that the trustee has the power to sell real estate and also how the proceeds must be distributed. If it doesn't cover this situation then the matter must be brought before a court and the court must issue an order.

Go to the court house for your county. They can provide you with a set of the appropriate paperwork. It would be advisable to consult with an attorney, but you can do it yourself.

The co-executors should discuss the issue with the attorney who is handling the estate. If the dispute cannot be resolved the matter should be brought before the court for a ruling.

The executor can file a resignation with the court and you would petition for appointment as the successor.

The Will must be submitted to the probate court and the court must appoint the executor. The executor does not have the authority to appoint guardians over children or property. Generally, the court will direct that money left to children must be deposited in trust for the children until they reach eighteen years of age. If the children inherit real property the court must appoint a guardian who can manage the property on behalf of the children until they reach eighteen.

Yes it is legal because the retired surveyor had it notarized and recorded. It doesn't sound like there anything funny going on here and just a friend helping out with the land description. You sound like a concerned person and this lady is lucky to have you around. If you are suspicious all you have to do is go to City Hall to the Planning Dept., and see how the description of the property was drawn up. * It would only be legal if the survey is correct and if all persons named on the title to the property or their legal representatives were privy to the proceedings. If there was not a formal survey of the land to insure that the plot in question corresponded with the one on file in the land recorder's office then the document is not legal.

A "spray trust" or "sprinkle trust" is created when the settlor gives the trustee discretion to pay income out of the trust to any of the beneficiaries of the trust as their needs appear. Thus the trustee has discretion to "spray" the income among the various beneficiaries. The trustee has a fiduciary duty to inquire as the the beneficiaries finances to assure the trustee's standard of living can be maintained.

In brief, the objectives of mental health counselor is to guide individuals into functioning behavior patterns. By guiding I mean, helping them to find their own healthy coping mechanisms, advantageous behavior, and thought patterns.

There is no executor if there is no will. An executor is appointed by the court to carry out the provisions in a will once the will has been approved by the court. When there is no will an Administrator must be appointed.

A qualified family member must petition the probate court to be appointed the Administrator of the estate. You should consult with an attorney who specializes in probate law or inquire directly at the probate court.

The successor trustee has generally the same rights and powers granted to the original trustee.

The successor trustee has generally the same rights and powers granted to the original trustee.

The successor trustee has generally the same rights and powers granted to the original trustee.

The successor trustee has generally the same rights and powers granted to the original trustee.

You must notify Social Security when someone dies, and any benefits received for the month of their death onwards should be returned to social security. If the deceases has a direct deposit arrangement with the SSA, after notification of death they can usually tap into the account and pull that last check back out. Do not attempt to circumvent the recovery process or fool the SSA, as penalties and punishment for criminal acts may apply. Even if the money is withdrawn from the account, SSA will still have to be repaid. Usually this notification to SSA will be done by the surviving spouse, children or executor. Just call the local or main SSA number, and they have a procedure to take the necessary information. SSA also has a pamplet online "What To Do When A Beneficiary Dies" you can access. Any member of the American Academy of Estate Planning Lawyers should be able to assist you with such an issue. My practice is in Pittsburgh as The Estate Planning Centers at The Coulter Law Offices LLC. Please remember that this is a general discussion only, and is not intended as legal advice upon which anyone should rely. Moreover, I'm typing this reply off of the top of my head as a courtesy, not as a researched answer to your situation. You should consult with a lawyer or appropriate professional regarding you own specific facts and circumstances. Mark T. Coulter, J.D.