Estates

can a discretionary trust set up for an only child be cancelled at any time?

The Trustees of the Boston Public Library

Sounds right to me. The time of the passing has nothing to do with who gets the property, it's in the will. If there is no will than your spouse is entitled to it.

If money goes to the estate that means the right to receive the money belonged to the decedent. Examples would include such sums as a debt owed to the decedent, insurance money where no beneficiary was named and the decedent owned the policy, refunds from paid in advance medical insurance, or an award from a court case that was settled in favor of the decedent.

When a person with no next-of-kin dies owning property, their property 'escheats' to the state.

Se abrevia así: std.

If he legally adopted you, perhaps you might be an heir if his estate is intestate. You should speak with an attorney in your jurisdiction who is familiar wth your state probate laws.

great power to some ppl

Unless all the heirs agreed in writing to allow the executor to act as the broker, with the understanding she would receive a commission, she has a conflict of interest and an independent broker should handle the sale of the property. If the executor took it upon herself to act as broker and collect a fee from the estate she should be apprised of the impropriety of self-dealing by a fiduciary. You should consult with the attorney who is handlig the estate or ask the court to review the situation if that attorney allowed this situation to take place.

No. If you owned the property in a joint tenancy with the right of survivorship their interest in the property "disappeared" at death and the property belongs to you alone.

book

I would certainly expect so. It would be negligence, if not fraud to do so.

No federal tax. You need to consult a CPA or tax accountant to find out if any state inheritance tax applies or not. You did not mention what state this is for.

UA means "under agreement."

Socialism.

Only the guardian can sell, or the children when they are 18+.

The mother AND the father are a child's next of kin. Next of kin is determined by legal adoption, marriage and blood. If a child's parents are deceased their next-of-kin would be their siblings by blood or by legal adoption.

Anyone that is of legal age can be an executor.

Check at the county courthouse probate court to look at the file to see how the estate was handled.

It is improper and maybe even illegal for her to do this. She needs to open up an estate account to put all monies in and then provide a meticulous accounting for any monies spent. If she doesn't do this correctly she could face legal penalties or charges.

plantation

A life tenant does not own any fee interest in the land. They own the right to the use of the land. Therefore, it woudn't be worth anything to a creditor. In addition, there are obligations associated with a life estate that vary from state to state. If the creditor siezed the life estate it would also acquire those obligations. You should consult with an attorney in your jurisdiction if your question involves an actual situation. In that case you need to know how the situation would be handled under your state laws.

baths

Simply go to your bank and tell them you want to open a Trust account. Anyone can do it at any bank. You will need to name a beneficiary, and make sure to tell your beneficiary that the trust exists and at what bank. You can also change your checking or savings account into a trust.

No, the executor works for the estate. The estate will pay the executor a reasonable fee. The beneficiary has limited direction that they can give the executor.