A trustee often tries to accommodate the wishes of the beneficiaries if the trust does not leave clear instructions for disposing of property, but when many beneficiaries are involved, there are often conflicting interests. Trustees also are granted trustee rights to receive reasonable pay for ...
There are several types of trusts, including a marital trust, a testamentary trust (as outlined in a will), an irrevocable life insurance trust, and a generation-skipping trust (for grandchildren or later generations). One main difference is whether a trust is revocable or irrevocable. A revoc...
A: The amount and types of distributions are based on the trust’s terms. In some, net income is required to be distributed each year, and principal is available for specific purposes. In others, the trustee has full discretion to make distributions, but often they can only be for specific...
There are generally three types of trustees: Individual: These trustees are friends or family members the grantor trusts to administer the funds assets. Independent: These are businesses (not financial institutions) that specialize in trust fund management. You'll find investment advisors, accountants,...
There are many different types of trust interest, which vary according to the type of trust involved. The main types of trust...
There are many different kinds of trusts, each with their own rules and regulations. I still don't understand a whole lot about trusts, but know in certain situations they are very beneficial. If I was ever going to set up some kind of trust, I would make sure I hired a good attorney...
Special types of trusts There are also several types of specialty trusts you can establish, and each is structured to accomplish different goals. Here are a few examples of commonly used trusts: Marital or “A” trusts This trust is designed to provide benefits to a surviving spouse, according...
What Types of Antitrust Abuses Are There? Antitrust violations can come in many forms. Some of the most common are: Boycotts:where two or more companies agree not to buy goods or services from some other business; Monopolies:where one business amasses so much market strength it can dictate...
What Are the Types of Contract? According to contract law, there are four types of contracts: Contracts on the basis of formation. Contracts on the basis of the nature of consideration. Contracts on the basis of execution. Contracts on the basis of validity. Contracts on the Basis of Formati...
Types of trusts You can tailor a trust to your needs. There are various types of trusts to choose from, but all trusts fall under two main categories. 1. Revocable trusts Revocable trusts, also called living trusts, are created during the grantor’s lifetime and are generally used for: Pl...