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Someone who creates a trust. Also called a trustor or settlor.
property control trust
Any trust that imposes limits or controls over the rights of trust beneficiaries. These trusts include (1) special needs trusts designed to assist people who (more...)
Any trust that imposes limits or controls over the rights of trust beneficiaries. These trusts include (1) special needs trusts designed to assist people who have special physical, emotional or other requirements, (2) spendthrift trusts designed to prevent a beneficiary from wasting the trust principal; and (3) sprinkling trusts that allow the trustee to decide how to distribute trust income or principal among the beneficiaries.
The condition of dying without a valid will. The probate court appoints an administrator to distribute the deceased person's property according to state law.
The court process following a person's death that includes proving the authenticity of the deceased person's will appointing someone to handle the deceased (more...)
The court process following a person's death that includes proving the authenticity of the deceased person's will appointing someone to handle the deceased person's affairs identifying and inventorying the deceased person's property paying debts and taxes identifying heirs, and distributing the deceased person's property according to the will or, if there is no will, according to state law. Formal court-supervised probate is a costly, time-consuming process -- a windfall for lawyers -- which is best avoided if possible.
A case that turns on the word of one witness versus another. The outcome of a swearing match usually depends on whom the jury finds most trustworthy.
A trust created by a will, effective only upon the death of the willmaker.
Under some state's probate codes, all relatives of a deceased person.
A seldom-used type of deed that contains express assurances about the legal validity of the title being transferred.
In the law of wills, a spouse who dies before the will maker while still married to him or her.
... Olde South had made initial contact with these individuals by holding seminars on estate
planning, primarily at senior citizen centers and churches, during which its
representatives discussed the importance of establishing living trusts. ...
... Resulting trusts and constructive trusts are both created by courts of equity in order
to satisfy the demands of justice. One ... failed. Resulting trusts generally are imposed
in accordance with the actual or assumed intention of the parties. ...
... Under Mrs. Storey's will, the residual estate was to be divided into separate trusts of equal value
for each of her children, with Mr. Yohanek to serve as trustee for the trusts. In the will, Mrs. Storey
also made specific bequests to her each of her three children. ...