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The Attorney General's Office, as are most agencies of the State, is funded by yearly appropriations from the Oklahoma Legislature. 57% of the Office's $25 million annual budget comes from the States' yearly appropriations. 18% of the budget comes from the Attorney General's Revolving Fund, which is composed of fees the Attorney General charges ...
Additionally, the UTC incorporated provisions from smaller, more specific uniform acts related to trusts while also superseding some outdated ones (including Article VII of the Uniform Probate Code, the Uniform Prudent Investor Act of 1994, the Uniform Trustee and Powers Act of 1964, and the Uniform Trusts Act of 1937). [2]
The administrator of an estate is a legal term referring to a person appointed by a court to administer the estate of a deceased person who left no will. [1] Where a person dies intestate, i.e., without a will, the court may appoint a person to settle their debts, pay any necessary taxes and funeral expenses, and distribute the remainder according to the procedure set down by law.
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Thus exceptions have crept increasingly into the general rule. Thus, a trustee can be exonerated from the "self-dealing" rules on property in situations where: (1) the transaction was authorized by the terms of the trust; (2) the transaction was approved by the court;(3) the beneficiary did not commence a judicial proceeding within the time ...
The office of the UK Public Trustee was in Sardinia Street from 1916 to 2005. There is a public trustee in each state and territory of Australia and a similar national position exists under English law. The public trustee primarily performs the role of trustee of deceased's estates where no executor is appointed, or the executor declines to act ...
The state’s highest court now needs to decide whether Oklahoma’s attorney general can jump into a long-running federal lawsuit tied to the compacts — and boot Gov. Kevin Stitt from the case.
A general power of appointment is a key element of a type of marital deduction tax law as prescribed in Internal Revenue Code §2056(b)(5). It is a trust that qualifies for the marital deduction, provided that the surviving spouse is given the income at least annually and the surviving spouse has a general power of appointment over the trust ...