Search results
Results From The WOW.Com Content Network
The trustee's right to do this, where it exists, is called a power of appointment. Sometimes, a power of appointment is given to someone other than the trustee, such as the settlor, the protector, or a beneficiary. 'As Trustee For' (ATF): This is the legal term used to imply that an entity is acting as a trustee.
A trust may be created by: (1) transfer of property to another person as trustee during the settlor's lifetime or by will or other disposition taking effect upon the settlor's death; (2) declaration by the owner of property that the owner holds identifiable property as trustee; or (3) exercise of a power of appointment in favor of a trustee. [76]
(The Center Square) — Louisiana lawmakers have finalized a sweeping overhaul of the state's tax system, passing a package of reforms aimed at reducing income taxes, increasing sales taxes, and ...
Private law—that is, substantive law between private sector parties, principally contracts and torts—has a civil law character, based on French and Spanish codes and ultimately Roman law, with some common law influences. [1] Louisiana is the only state whose private legal system is based on civil law, rather than the traditional American ...
Louisiana taxpayers will have to wait at least another year before lawmakers consider eliminating the state's $4.5 billion income tax again. Republican Columbia state Rep. Neil Riser's House Bill ...
Where a settlement of property on a third party trustee by a settlor fails, the property is usually said to be held on resulting trusts for the settlor. However, if a settlor validly transfers property to a third party, and the words used are held not to create a trust, the usual rule is that the donee takes the property absolutely. [2]
For premium support please call: 800-290-4726 more ways to reach us
In relation to automatic resulting trusts, there's some difference in expressing the nature of the settlor's intention: - According to Westdeutsche, Lord Browne-Wilkinson stated that a resulting trust arises due to a legal "presumed intention to create a trust in favor of the settlor". - It's also suggested that the trust arises from a "lack of ...