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A trust gives you the most control over how your investments transfer ownership after death while avoiding probate. During your lifetime, you manage the investments as the trustee, just as you ...
Transferring property out of a trust after the trustor’s death is a multistep process in which the trustee fills out deed documentation, identifies mortgages and transfers ownership to the ...
For example, the trust may be depleted to such an extent that the management of the trust by a professional may be uneconomical. Changes in the law or circumstances surrounding the formation of the trust after the death of the grantor may dictate changes in the terms of the trust (or the termination of the trust itself.)
If you leave a trust to a loved one, it's probably because you want to ensure that they are taken care of after you are gone. But that very act may cause you to wonder how long can a trust …
Carnwath J approved the "floating trust" analogy, first proposed by Dixon J in Birmingham v Renfrew [1937] CLR, which holds that the law will give effect to the intention (to create a mutually binding will) by imposing a floating trust which becomes irrevocable after the death of the first testator and crystallises after the death of the survivor.
In common law jurisdictions, probate is the judicial process whereby a will is "proved" in a court of law and accepted as a valid public document that is the true last testament of the deceased; or whereby, in the absence of a legal will, the estate is settled according to the laws of intestacy that apply in the jurisdiction where the deceased resided at the time of their death.
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