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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.
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 ...
Naming minor children as beneficiaries, whether irrevocable or not, is generally not advisable. Instead, consider naming an adult or creating a trust to manage the funds on behalf of your children.
Many create trusts to protect family members from themselves. It is not unusual [citation needed] to see a will in which four children get funds free of trust or any other encumbrances from their father but a fifth child's funds are all or mostly placed in trust. This is usually for good cause – drug abuse, demonstrated inability to hold onto ...
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 ...
Beneficiaries are individuals you designate to receive the funds in your account after you pass away. For instance, you might name your adult children as beneficiaries on your savings account.
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