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In trust law, a beneficiary (also known by the Law French terms cestui que use and cestui que trust), is the person or persons who are entitled to the benefit of any trust arrangement. A beneficiary will normally be a natural person , but it is perfectly possible to have a company as the beneficiary of a trust, and this often happens in ...
Can a Trustee Withhold Trust Funds From Beneficiaries? The simple answer is no. A trustee has a fiduciary responsibility to uphold the wishes of the grantor and the terms of the trust. Therefore ...
In addition, for corporate trustees, if the trustee utilizes mutual funds or common trust funds in which they are compensated for managing the fund (as well as a customary trustees fee), such arrangements are not considered conflicts of interest provided there is full disclosure to the beneficiaries of the relationship. [60]
In this case, an independent, third-party trustee has total control over the assets and can buy, sell, and manage them without input from the beneficiaries. Insurance trust: In this kind of ...
the act of "appointing" (i.e. giving) an asset from the trust to a beneficiary (usually where there is some choice in the matter—such as in a discretionary trust); or; the name of the document which gives effect to the appointment. The trustee's right to do this, where it exists, is called a power of appointment. Sometimes, a power of ...
The trust beneficiaries are notified by the trustee that they have the power to withdraw some or all of the gift to the trust for a specified time period. The simultaneous acts of the grantor transferring property to the trust and the trust beneficiaries being permitted to withdraw the gift from the trust is deemed to be the same as giving the ...
Instead, consider naming an adult or creating a trust to manage the funds on behalf of your children. ... When you name a beneficiary on your life insurance policy, you designate who will receive ...
When you hear the word "trust" in financial or business terms, you probably think of either Teddy Roosevelt or rich kids who drive Range Rovers in high school. The truth, however, is that trusts...
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