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A trust is a legal arrangement in which one person, called a grantor, transfers the management of assets to someone else. That someone else is called a trustee .
Continue reading → The post How to Remove Someone from a Life Estate appeared first on SmartAsset Blog. Life estates can provide effective means to create joint ownership of property, avoid ...
Strictly speaking, the Grantor of a trust is merely the person creating the trust, [12] usually by executing a trust agreement which details the terms and conditions of the trust. Such a trust can be revocable or irrevocable. A revocable trust is one in which the settlor retains the ability to alter, change or even revoke the trust at any time ...
In the law of inheritance, wills and trusts, a disclaimer of interest (also called a renunciation) is an attempt by a person to renounce their legal right to benefit from an inheritance (either under a will or through intestacy) or through a trust. "If a trustee disclaims an interest in property that otherwise would have become trust property ...
“Generally speaking, if there is a beneficiary designation on a bank account, this overrides the estate plan, including the last will and testament and/or revocable living trust.”
Traditionally, letters of administration granted to a representative of a testator's estate are called "letters of administration with the will annexed" or "letters of administration cum testamento annexo" or "c.t.a.". Essentially, this document is issued to the person who will administer the estate of someone who dies without a will.
We know that dealing with the loss of a loved one is very difficult. AOL has processes in place to request the closure of the deceased user's account, to request the suspension of billing and premium services, and in certain circumstances to request content of the account.
Reverting to the estate: In rare cases, the deceased beneficiary’s share might revert to the insured’s estate. This can complicate matters, as the death benefit would be subject to probate.
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