Sentences with phrase «successor trustee»

These guidelines may include the timing and method for distribution of trust assets, types of investments that can be made within the trust and naming successor trustees.

I asked successor trustee to sign over any rights if he has any.

During your lifetime you can name yourself trustee with First Bank & Trust being named as successor trustee to take control and administer your trust after your death.

The simplest way is to do what your lawyer recommended: say that you have created a (first, or second, or third...) re-statement of the trust even if you have gutted the whole original (or previous) document with new successor trustees, new beneficiaries, etc..

Successor trustees often lack the time, resources or knowledge to personally administer the trust, and therefore may call upon legal, accounting and investment professionals for assistance.

Your druggie successor trustee may clean up long enough to to deal with this later were s / he to need money in a hurry so don't rule out that potential threat for later.

Successor trustee wants to minimize taxes upon distribution of these tax sheltered accounts.

CWT has entered into a definitive agreement (the «Agreement») to appoint Computershare Trust Company of Canada (Computershare) as successor trustee or custodian for clients who currently hold exempt market securities within a CWT self - directed account.

Instead, your named successor trustee will step in to take care of your estate when you are incapacitated thanks to your living trust.

Edward Jones Trust Company provides professional trust services, including serving as trustee or co-trustee, successor trustee or managing agent.

The Trustee may at any time resign as Trustee by written notice of its election so to do, delivered to the Sponsor, and such resignation shall take effect upon the appointment of a successor trustee and its acceptance of such appointment.

The surviving entity from such a transaction shall be the successor of the Trustee without the execution or filing of any document or any further act; however, during the 90 - day period following the effectiveness of such transaction, the Sponsor may, by written notice to the Trustee, remove the Trustee and designate a successor trustee.

The Successor Trustee, who you've picked during your lifetime, steps in and manages the assets and distributes them according to what the document says, without obtaining a Court Order, in order for them to pass according to your wishes.

So, in the event of if you were to become incapacitated during your lifetime, the Successor Trustee can step in and administer the assets for your benefit, and make sure they are available for your support.

If you didn't have a Successor Trustee, you would likely need to get a Power of Attorney to manage the assets for your benefit, or a Conservator or Guardian; but because you have a Trust in place, all of the assets are owned by the Trust and the Successor Trustee can step in and administer them for your benefit, as if you were able to administer them yourself.

Instead, the trust becomes irrevocable after the grantor dies, and the successor trustee appointed in the trust document distributes the property according to the terms of the trust.

Successor Trustee: Person or institution named in the trust document who will take over should the first trustee die, resign or otherwise become unable to act.

The successor trustee of the trust was able to refinance the existing reverse mortgage -LSB-...]

Not only will a revocable living trust help to avoid probate, it will keep all personal information private and provide your successor trustee with the authority to manage your finances if you become incapacitated.

Remember, an estate plan only works if your successor trustee or executor is aware of it.

Get a Revocable TRUST, Trustees and Successor Trustees have automatic legal authority and the ability to convey title (requirements to exercise the Non-Borrowing Spouse Option).

It's also a good idea to appoint a successor trustee, in case something happens to your first trustee.

You may need to provide a copy of the new title page and possibly the second page where the successor trustee is named.

The trustee that you designate, usually it's you to start with, and then there's a successor trustee when you pass away.

A Trustee or Successor Trustee has automatic legal authority to represent your interest while you are living and represent your wishes for your property when you die.

If you designated your family living trust as such, the death benefit of your cash value life insurance policy will flow into the trust and your successor trustee will have the obligation to manage it and utilize the tools provided in your living trust for the maximum benefit of your estate and your beneficiaries.

A Revocable Living Trust must first include the necessary authorization within the «Trustee Powers» section in order to allow your Successor Trustee to manage your business affairs.

In addition, Charley was a successor trustee of Yale University, where he chaired the university's famed investment committee with David Swensen.

The successor trustee of the trust was able to refinance the existing reverse mortgage in order to prevent the reverse mortgage lender from foreclosing on the property.

In addition to providing the name and address of a trustee and successor trustee, a caregiver and successor caregiver (all of whom can be corporations and / or individuals) you will be asked to provide enough information to:

Obtained affirmance by the Second Circuit Court of Appeals of the District Court's dismissal of quiet title action against homeowners by a successor trustee claiming that conveyance of property by a predecessor co-trustee was void.

As I also practice estates and trusts law, I assist individuals who may find themselves in the untenable position of being both a successor trustee and / or beneficiary of a loved one's trust and also a debtor in a bankruptcy case.

One of the primary tasks of an executor or successor trustee is to ascertain and marshal the decedent's assets.

As I also practice estates and trusts law, I assist individuals who may find themselves in the untenable position of be - ing both a successor trustee and / or beneficiary of a loved one's trust and also a debtor in a bankruptcy case.

If you were to become incapacitated, the appointed successor trustee (that you selected) can help you manage your affairs without court intervention.

If they had decided to create a trust, they could have chosen to name the trust the primary beneficiary and named each other co - trustees with Sirius being successor trustee.

If you designated your family living trust as such, the death benefit of your cash value life insurance policy will flow into the trust and your successor trustee will have the obligation to manage it and utilize the tools provided in your living trust for the maximum benefit of your estate and your beneficiaries.

I've also heard you can close the property to a Land trust with Trustee of your choice and then after closing have them resign and you be the successor trustee but they stay on public record.

Here's my question... Can I just name myself as successor trustee to convey title WITH - OUT A PETITION?

Even properties held in properly prepared family trusts can be challenging upon resale when the successor trustees / heirs can't find the trust docs.

You can name yourself as the initial trustee of your living trust (most people do), and then name a successor trustee to manage the trust if you become unable to do so.