What Is Probate and When Is It Required?
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Pet Trust Laws vary by state and not all states have laws to cover this type of legal arrangement. Be sure you understand what is required for your specific state. Trusts involve three parties: The grantor, who gives funds to a trustee; the trustee who distributes the designated amount of ...
A trust that is written and funded during a lifetime (called a “living trust”) is generally not subject to probate following the death of the trust creator. For a trust to be enforceable, a grantor must have what is known as legal capacity to create the “trust”. Legal capacity means...
in the production process (Nachum, 1996). As in all other firms, professional service firms' ability to maximise their innovative potential is fundamental to long-term survival and growth (Baumol, 2002;Schumpeter, 1939), and their services significantly contribute to the value creation and ...
A resettlement occurs when a new 'trust estate' is created 'out of an old trust'. When that happens, the trustee will be considered to have disposed of the
In Florida, probate is typically required for estates with a total value of $75,000 or more, excluding the value of the deceased person’s homestead property. If the estate falls below this threshold, it may qualify for a simplified probate process known as “summary administration.” ...
A petition for paternity is filed in these types of cases because one party is resisting, and a court order for genetic testing is required. With an order for genetic testing, all parties are required by law to cooperate, and the child must also be tested to see if there ...
In this case, court approval is not required to get rid of the trust. The grantor trustee can act on his own authority and dissolve it. However, this involves changing title of all assets from the name of the trust into the name of someone else, usually back into the name of the ...
The bulk of this series on What to Do When Someone Dies deals with funeral planning and steps for moving through the estate and probate process. However,...