I would appreciate input from a trust atty, an estate atty
I would appreciate input from a trust atty, an estate atty and a divorce / family atty."Settlor" means a person, including a testator, who creates, or contributes property to, a trust. If more than one person creates or contributes property to a trust, each person is a settlor of the portion of the trust property attributable to that person's contribution except to the extent another person has the power to revoke or withdraw that portion. Neither the possession of, nor the lapse, release, or waiver of a power of withdrawal shall cause a holder of the power to be deemed to be a settlor of the trust, and property subject to such power is not susceptible to the power holder's creditors."If more than one person ...contributes property to a trust, each person is a settlor ..."#1.) Ten yrs b4 our divorce, my ex arranged an irrevocable charitable trust with our marital assets (stock) without my knowledge, thus w/o my permission to use my half of the stock's value.#2.) He had other trusts which, of course, consisted of marital assets.Q. Am I another settlor of all the trusts he put our money into?"... settlor of the portion of the trust property attributable to that person's contribution...Q. my portion would be 1/2, correct?"...contribution except to the extent another person has the power to revoke or withdraw that portion."Q. What does that mean?"Neither the possession of, nor the lapse, release, or waiver of a power of withdrawal shall cause a holder of the power to be deemed to be a settlor of the trust,..."Q. Means what?"...and property subject to such power is not susceptible to the power holder's creditors."Q. What does this mean? Note: I am a creditor of ex's estate.Q. How might all of this affect the divorce order that states that I am to get the assets that ex had at time of divorce, but which he did not include on his financial declaration (aka hidden assets)?
Texas Trust Attorney Question: I am the beneficiary of a
Texas Trust Attorney Question: I am the beneficiary of a testamentary trust set up by my Grandfather. I am the sole beneficiary and my three cousins are the remaindermen. The current successor trustee is US Trust after BOA, NCNB, and Republic Bank. They are very expensive, but otherwise haven't done anything wrong. #1: did Texas adopt the no-fault trustee removal sections of the Uniform Code and #2: If the beneficiary (me) and all the remaindermen (my three cousins) would like to change the trustee to be either another bank or Me, or one of my cousins, can we force it or must they resign. Again, they've done nothing wrong, but are just way way too expensive for this little trust.
I am a co-trustee and a beneficiary of a Nevada inter-vivos
I am a co-trustee and a beneficiary of a Nevada inter-vivos trust. Both trustors have died. My fellow trustee has petitioned a Nevada court to take in rem jurisdiction of the trust. The initial hearing is scheduled for April 15th. Is there a specific period of tome (e.g 10 days) prior to the hearing when I must receive a copy of the filed Petition?ThanksJim
I have another questions that has to do with my obligations
I have another questions that has to do with my obligations as Trustee. The only reason I am acting as Trustee is because we have royalty payments each year that are ongoing. My deceased brother's wife is a part of this which is very difficult for my brother's surviving 2 children, adults in their 40's. There was a lot of sadness and loss between my brother and kis kids, mostly due to conflicts caused by his wife. When my brother dies 2 years ago, everything was left to his wife and nothing to his kids but the kids assume when she dies, everything will go to them as my brother told them, she would "do the right thing".. I at one point asked her if she would pass the royalty shares over to my brother's kids but she went crazy and answer was no. I at one point had to ask for a copy of my brother's trust and will from her to prove she was to inherit the royalties. Long story short, nothing is ever to go to my brother's kids, it is all (a fairly large estate, over 1 million) going to a community college and the kids do not know this and since not speaking to the wife and she would not have the guts to tell them. Since I now know, is it okay if I tell them the truth about their dad or is this violating my duties as Trustee? If it is wrong for me to tell them, do they have any rights to know considering it involves their father even though they are not mentioned in his Trust other than they may have some of his possessions? So though no money to them, they are mentioned in regards ***** ***** I feel they have the right to know this but I am not sure I am the one to tell them. If it is legally okay for me to do so, I will.
This question is. Ca. estate law. Ray The trustee in my
This question is for Ray only. Ca. estate law.Hi Ray The trustee in my fathers estate is claiming that he purchased a large amount of the coins that are invoiced to my father and are under his account number. A few of them have the trustees name behind my fathers for billing and shipping.I know the trustee never purchased a single coin. He has never offered any proof of any purchase including an invoice with his name and a different account number. I guess he is just claiming he ran it through my fathers account? These purchases were made back in 2004-2007. So, they said there are no bank records.Does he have to prove he purchased these coins? Otherwise he has just taken whatever he wants.
My grandmother is 101 and living in a assisted living
My grandmother is 101 and living in a assisted living facility. She has been found to have dementia and there has been an appointed conservator. My grandmother has a trust and the trustee has liquidated all household belonging, jewelry, silver, etc. to her and her siblings, leaving out my side of the family (yes, we are beneficiaries too).Question: What legal language do you use to request the court to release a copy of the trust to ALL the beneficiaries? I have a petition pending with the court to remove trustee from her position as she has misappropriate trust property. But I need the law or code or language that shows that the trust becomes irrevocable because my grandfather is dead and my grandmother is incompetent. Can you help me?
I am a Florida resident. I have a townhouse which I rent and
I am a Florida resident. I have a townhouse which I rent and would like to accomplish the following with it.1. Transfer it out of my name permanently and into an irrevocable trust or non profit corporation2. I would like to retain limited control as a trustee.3. I would like to use the net proceeds from the rent to go to charity4. I would like not disburse the proceeds to charity for a few years, so that Ican buy one or 2 more properties with the proceeds before these get disbursed.Please recommend the way to achieve my goals.