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Dear Penny, I’ve recently purchased a house; it’s only in my name and really my only asset. I have three grown children; two who live with me and pay rent and one who’s married and owns her ...
A living trust, meanwhile, is not subject to probate in Florida. Any assets that you leave in a trust can be transferred to the trust beneficiaries upon your death, according to the terms that you ...
As part of that process, a will becomes a matter of public record. And the idea of any old person being able to look up details of my family's finances bugs the heck out of me.
The trustees should administer the trust for the sole benefit of the beneficiaries, against all others who might seek to benefit or profit from trust assets. [54] The first cardinal principle is that the trustee should not personally profit from any transactions that occur with respect to trust property.
Trust is the belief that another person will do what is expected. It brings with it a willingness for one party (the trustor) to become vulnerable to another party (the trustee), on the presumption that the trustee will act in ways that benefit the trustor. [1] [2] [3] In addition, the trustor does not have control over the actions of the ...
As an application of comity, no forum state is bound to recognise a trust the significant elements of which, except for the choice of the applicable law, the place of administration and the habitual residence of the trustee, are more closely connected with States which do not have the institution of the trust or the category of trust involved ...
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