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Image source: Getty Images. 1. You don't have to go through the probate process. When it's time for a will to be executed, it goes through a process called "probate." During probate, a court ...
The UTC states that a trust is valid if, under the law of the jurisdiction in which it was created, it was properly created. [97] In most cases, this would be the law of the jurisdiction of the grantor's domicile. Trusts must also, under the Code, have a lawful purpose which is possible to achieve. [98]
Image source: Getty Images. 1. You may be able to avoid the probate process. Arguably the biggest advantage of a living trust is that it can often allow your estate to avoid probate when ...
Today’s choices shape the future for children, great-grandchildren and future descendants. For Californians, navigating the landscape of living trusts and wills is paramount in ensuring a ...
The leading case that established the public trust doctrine in the U.S. is the 1892 Supreme Court case Illinois Central Railroad v. Illinois.The Court held that public trust submerged lands belong to the respective States within which they are found, with the consequent right to use or dispose of any portion thereof, when that can be done without substantial impairment of the interest of the ...
The final text of the Uniform Trust Code (UTC) was approved by the ULC commissioners in August 2000. The American Bar Association's House of Delegates officially endorsed the UTC in February 2001. The following months saw the finalization of detailed interpretive comments in April 2001 and minor clean-up revisions in August 2001. [ 2 ]
The Court deals with about 8,800 cases per year, although review is discretionary in most cases, and it dismisses the vast majority of petitions without comment. [9] It hears arguments and drafts full opinions for about 100 to 120 cases each year, of which about 20 are automatic death penalty appeals. [citation needed]
The law of trusts was constructed as a part of "Equity", a body of principles that arose in the Courts of Chancery, which sought to correct the strictness of the common law. The trust was an addition to the law of property, in the situation where one person held legal title to property but the courts decided it was fair just or "equitable" that ...