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  2. United States trust law - Wikipedia

    en.wikipedia.org/wiki/United_States_trust_law

    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 allowed under statutes of limitation; (4) the beneficiary somehow ...

  3. What happens to your investment account after you die? - AOL

    www.aol.com/finance/what-happens-to-investment...

    3 to 24 months if both the owner and beneficiary die at the same time • Court oversight is typically required if the beneficiary dies at the same time as the owner Trust account

  4. Trust (law) - Wikipedia

    en.wikipedia.org/wiki/Trust_(law)

    [2] [3] A testamentary trust is an irrevocable trust established and funded pursuant to the terms of a deceased person's will. An inter vivos trust is a trust created during the settlor's life. The trustee is the legal owner of the assets held in trust on behalf of the trust and its beneficiaries. The beneficiaries are equitable owners of the ...

  5. Uniform Principal and Income Act - Wikipedia

    en.wikipedia.org/wiki/Uniform_Principal_and...

    The aim of the law is to ensure that the intention of the trust creator or decedent is carried out, and to govern the proper distribution of assets to trust beneficiaries, heirs and devisees. [1] To be enacted into law, the Act must be adopted by the state legislature. To date, most states have adopted the Act (sometimes with modifications). [2]

  6. Asset-protection trust - Wikipedia

    en.wikipedia.org/wiki/Asset-protection_trust

    The spendthrift clause has three general exceptions to the protection afforded: the self-settled trusts (if the settlor of a trust is also a beneficiary of a trust), the case when a debtor is the sole beneficiary and the sole trustee of a trust, and the support payments (a court may order the trustee to satisfy a beneficiary's support ...

  7. Uniform Prudent Investor Act - Wikipedia

    en.wikipedia.org/wiki/Uniform_Prudent_Investor_Act

    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.

  8. Charitable trust - Wikipedia

    en.wikipedia.org/wiki/Charitable_trust

    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.

  9. No-contest clause - Wikipedia

    en.wikipedia.org/wiki/No-contest_clause

    The phrase is typically used to refer to a clause in a will that threatens to disinherit a beneficiary of the will if that beneficiary challenges the terms of the will in court. Many states [1] in the United States hold a no-contest clause in a will to be unenforceable, so long as the person challenging the will has probable cause to do so. [2]