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A resulting trust is implied by the law to work out the presumed intentions of the parties, but it does not take into consideration their expressed intent. A constructive trust [13] is a trust implied by law to work out justice between the parties, regardless of their intentions. Common ways in which a trust is created include:
Trust account • 3 to 6 weeks for uncontested trusts ... Joint accounts work differently in community property states than in common law states. According to Travis Christiansen, an estate ...
The "credit shelter trust" generally only works for married couples since (a) the tax code provides the opportunity to shift assets between married persons for an unlimited amount by means of the unlimited marital deduction; and (b) unmarried persons attempting to do the same would be impacted by the "gift tax" during life.
A custodial account is a financial account (such as a bank account, a trust fund or a brokerage account) set up for the benefit of a beneficiary, and administered by a responsible person, known as a legal guardian or custodian, who has a fiduciary obligation to the beneficiary. [1]
Trusts can be a useful tool for estate planning when you want to leave specific instructions about how your assets should be managed during your lifetime and beyond. Part of creating a trust means ...
Understanding what you need to support your loved ones during and after your life can be a daunting task. Especially when it comes to the issue of assets and finances. Many people take steps like ...
A trust company is a corporation that acts as a fiduciary, trustee or agent of trusts and agencies. A professional trust company may be independently owned or owned by, for example, a bank or a law firm, and which specializes in being a trustee of various kinds of trusts.
A Totten trust (also referred to as a "Payable on Death" account) is a form of trust in the United States in which one party (the settlor or "grantor" of the trust) places money in a bank account or security with instructions that upon the settlor's death, whatever is in that account will pass to a named beneficiary. For example, a Totten trust ...
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