Ads
related to: illinois trusts and beneficiaries act section 11- Estate Planning Guide
Wills? Trusts?
What do you need?
- 8 Major Investor Mistakes
Learn the 8 biggest mistakes
investors make & how to avoid them.
- 401(k) and IRA Tips
Learn the differences.
Is it time to rollover your 401(k)?
- 13 Retirement Blunders
Retire at ease, avoid these errors.
Blunder #9: buying annuities.
- Estate Planning Guide
uslegalforms.com has been visited by 100K+ users in the past month
Search results
Results From The WOW.Com Content Network
Beyer is the editor of the Wills, Trusts, and Estates Prof Blog, which earned Hall of Fame status in 2015 after being named to the ABA Journal's Blawg 100 for five consecutive years. [10] He also serves as editor-in-chief of the REPTL Reporter, the official journal of the Real Estate, Probate and Trust Law Section of the State Bar of Texas. [11]
Qualified beneficiaries" are defined as a beneficiary who, on the date the beneficiary's qualification is determined: (A) is a distributee or permissible distributee of trust income or principal; (B) would become a distributee or permissible distributee of trust income or principal if a present distributees' interest ended on that date without ...
In South Africa, in addition to the traditional living trusts and will trusts there is a "bewind trust" (inherited from the Roman-Dutch bewind administered by a bewindhebber) [51] in which the beneficiaries own the trust assets while the trustee administers the trust, although this is regarded by modern Dutch law as not actually a trust. [52]
Charitable trusts, like other trusts, are administered by trustees, but there is no direct relationship between the trustees and the beneficiaries. [4] This results in two key points: first, the trustees of a charitable trust have greater freedom to act than other trustees, and secondly, beneficiaries cannot take legal action against the trustees.
It ruled that if a land trust was set up with some minor duty on the trustee (such as to deed the property to the beneficiaries 20 years later), then the trust would not be considered passive and would be valid. Thus, the land trust in America today is often called an "Illinois-type" land trust or "Illinois Land Trust". [2]
The Uniform Prudent Investor Act (UPIA), which was adopted in 1992 by the American Law Institute's Third Restatement of the Law of Trusts ("Restatement of Trust 3d"), reflects a "modern portfolio theory" and "total return" approach to the exercise of fiduciary investment discretion.
Get AOL Mail for FREE! Manage your email like never before with travel, photo & document views. Personalize your inbox with themes & tabs. You've Got Mail!
Claflin doctrine is a U.S. law doctrine which states that a trust cannot be modified or terminated, even if all beneficiaries agree, if to do so would be contrary to a material purpose of the settlor. Material purposes include spendthrift, support, and discretionary trusts. The rule takes its name from the 1899 Massachusetts case Claflin v.