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A trust is only as good as the trustee you assign to oversee it after you pass. Trustees do have a fiduciary obligation to faithfully carry out your wishes. However, there are no “trustee police ...
A trust is a document that allows you to keep control of your money and property and designate who receives it once you die. “Revocable” means you can change the terms at any time while you ...
A codicil is a testamentary or supplementary document similar but not necessarily identical to a will.The purpose of a codicil can differ across jurisdictions.It may serve to amend, rather than replace, a previously executed will, serve as an alternative or replacement to a will, or in some instances have no recognized distinction between it and a will.
A testamentary trust provides a way for assets devolving to minor children to be protected until the children are capable of fending for themselves; [3] A testamentary trust has low upfront costs, usually only the cost of preparing the will in such a way as to address the trust, and the fees involved in dealing with the judicial system during probate.
A trust fund is a legal entity that holds and manages assets on behalf of another individual or organization. A will, on the other hand, is a legal document that directs the distribution of assets ...
Intention. A mere expression of hope that a trust be created does not constitute the intent to create a trust. Conversely, the use of terms of art such as the word "trust" does not of itself establish whether an instrument is an express trust. [16] Disputes in this area mainly concern differentiating gifts from trusts. Subject Matter.
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