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Just a few pieces of information can direct large sums of money. “One form like that can control millions of dollars, whereas a trust could be 50 pages,” says M.D. Anderson, founder of ...
Family and finances can often result in messy situations, especially when someone passes away — and particularly if one family member is the beneficiary while another isn’t.
Request and receive information about the administration of the estate, including financial details ... Contesting a will means that one or more beneficiaries bring a legal challenge against it in ...
In law, an "heir" (FEM: heiress) is a person who is entitled to receive a share of property from a decedent (a person who died), subject to the rules of inheritance in the jurisdiction where the decedent was a citizen, or where the decedent died or owned property at the time of death.
The treatment of a brokerage account based IRA as a trust for tax purposes is largely a legal fiction. If Article 8 is set aside and the brokerage account is considered purely under principles of common law , there is a possibility of construing the collection of brokerage accounts in the intermediated custodial holding chain as a collection of ...
However, the Code has now permitted "qualified beneficiaries" to at least be informed of their right to receive a trustee's periodic report of trust transactions and assets and are entitled to receive it if they do in fact request it. [71] "Qualified beneficiaries" are defined as a beneficiary who, on the date the beneficiary's qualification is ...