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Governing doctrines. Pour-over will; Cy-près doctrine; Hague Convention (conflict law) Application in civil law; Dishonest assistance; Estate administration
A trust generally involves three "persons" in its creation and administration: (A) a settlor or grantor who creates the trust; [11] (B) a trustee who administers and manages the trust and its assets; and (C) a beneficiary who receives the benefit of the administered property in the trust. In many instances where a revocable living trust is ...
A trust can turn non-taxed accounts into taxable ones. But you can make the trust itself the beneficiary so that these accounts pass directly to your trustees without some IRS agent crashing the wake.
Irrevocable trust: In contrast to a revocable trust, an irrevocable trust is one in which the terms of the trust cannot be amended or revised until the terms or purposes of the trust have been completed. Although in rare cases, a court may change the terms of the trust due to unexpected changes in circumstances that make the trust uneconomical ...
A revocable, or “living” trust is a commonly used type of trust that allows the grantor — the trust’s creator — to make changes, or even cancel the trust, based on their preferences.
Although the word "trust" is used, resulting and constructive trusts are different from express trusts because they mainly create property-based remedies to protect people's rights, and do not merely flow (like a contract or an express trust) from the consent of the parties. Generally speaking, however, trustees owe a range of duties to their ...
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