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A living trust is set up for a specific purpose, with rules for what is to be done with the assets while the individual is living. They key to many is that it can also transfer the contents without going through probate. An estate is the property of a decedant that is going through probate.
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What is the difference between a depositary share preferred and a trust preferred stock?
none
How does a real estate trust work?
An investor(s) who wants to acquire real property for income or investment purposes arranges for the drafting of a realty trust by an attorney who specializes in real estate and trust law. The property is then conveyed by deed to the trustee of the trust who then manages the property according to the provisions in the trust. The trust protects the property from the creditors of the individuals who created the trust and from their heirs at law. Property in a trust is not included in a decedent's estate.
What are the five ways to dispose an estate?
1. He can neglect to make a will, in which case the law will dispose of his estate. 2. He can put all his property into joint ownership. That is, he can provide that he and his wife own all his property jointly. In most states, this action makes his wife the sole owner upon his death. A problem can arise in this case if he and his wife die at the same time. 3. He can make a will that distributes outright all of his estate to one or several named persons or institutions. 4. He can make a will leaving his estate in trust. 5. He can dispose of his estate while he is still living by placing it in a living trust or by giving it away.
What is the market cap for Investors Real Estate Trust IRET?
As of July 2014, the market cap for Investors Real Estate Trust (IRET) is $942,807,991.74.
The whole estate is in trust for the daughter of the deceased who is responsible for the credit card debts?
If the will provides that the estate shall be held in trust for a daughter that is called a testamentary trust. By law, the debts of the decedent will be paid first out of the assets of the estate. After the debts have been paid any remaining assets will then be transferred to the trust for the benefit of the daughter.
What is the difference between an irrevocable trust and a living trust?
Provisions of a living trust remain valid as long as you stay alive, but the benefactors of your estate are not bound by these provisions once you have died. An irrevocable trust binds the benefactors of your estate to the trust's provisions.
What happens if the beneficiary of a california living trust dies before the estate is settled?
There is a disconnect here. A living trust is not related to an estate. The wording of the trust and perhaps the will associated with the individual will determine what the expectations are.
What is the difference between a living trust and other trusts?
A living trust can be modified while the person is still a live. Other forrms of trusts do not allow them to be modified.
Do you need to probate your father's estate if he left a living trust before he died?
Generally, if your father owned any property that was not transferred to the trust while he was living then his estate must be probated.
What does the Revocable Living Trust provide?
A revocable living trust is very similar to a living will. The owner of money or property can determine what happens to their estate after their death.
Difference between a Revocable Living Trust and Dynasty Trust.?
In both a revocable living trust and dynasty trust, the trust assets are managed by a trustee separate and apart from your personal assets. The primary difference is that a revocable trust can be modified or even revoked by you during your lifetime. Once a dynasty trust is created it cannot be revoked or modified by the settlor of the trust.
What is the difference between credit shelter trust and irrevocable trust?
What is the difference between credit shelter trust and irrevocable trust?
Do I need a living trust?
If you are already writing a living will so you don't have to worry about your estate in the future it is a good idea to write a living trust as well. For more information about living trust http://www.legalzoom.com/living-trusts/living-trusts-overview.html and scroll down to where it talks about living trust.
Where is the form for the irrevocable trust Is the living trust the same as an irrevocable trust?
The biggest difference between the trusts is that the Living Trust is revocable and can be changed over time. For detailed information visit: http://www.ultratrust.com/revocable-trusts-vs-irrevocable-trusts.html
Can a judgment lien force a sale of real estate if it is in a living will?
A living will is the "pull the plug" medical document. You probably mean a living trust. If so, then it depends on the circumstances surrounding the trust & the lien.
What is the difference between trust lands and reservations?
There is no difference between trust lands and reservations. A reservation is one kind of trust land (land held in trust for others.)
What document controls the distribution of an estate the Will or Living Trust Are the beneficiaries of a Will entitled to a full or half share of an estate with an AB Trust?
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