Ads
related to: living trust trustee definition dictionary
Search results
Results From The WOW.Com Content Network
The term "incentive trust" is sometimes used to distinguish trusts that provide fixed conditions for access to trust funds from discretionary trusts that leave such decisions up to the trustee. Inter vivos trust (or 'living trust'): A settlor who is living at the time the trust is established creates an inter vivos trust.
Revocable living trusts were often touted and marketed as valuable solely because of their ability to "avoid probate" and the costs and complications that surrounded it. Although probate avoidance is certainly a consideration in the use of a "living trust", there are many other estate planning techniques which also "avoid" probate.
However, a trustee may act otherwise than in accordance with the terms of the trust if all beneficiaries, being sui juris and together absolutely entitled, direct the trustee to do so (or so consent). If any question arises as to the constriction of the provisions of the trust, the trustee must approach the court for determination of the question.
A living trust is a legal arrangement in which you put assets into a trust and specify how you want them distributed after you pass away. On the other end, the probate process is sometimes known ...
Family trusts are a type of living trust. It can be revocable or irrevocable, depending on the estate planning strategy you have in mind. Family trusts are designed to manage your assets on behalf ...
Living trusts dictate the distribution of someone's assets, and are created while that person, called the grantor, is still alive. The distribution can happen after death or before, depending on ...