Questions tagged [trusts-and-estates]
The trusts-and-estates tag has no summary.
146 questions
0
votes
2
answers
152
views
How do courts handle conflicts between a person's duties as both a trustee and a director?
Consider the following hypothetical involving an individual ("Bob"), a hypothetical company ("The Company"), and a hypothetical trust containing shares in The Company ("The ...
- 7,193
4
votes
3
answers
1k
views
Doesn't this jury verdict conflict with itself as a matter of law?
Stipulated facts as part of an agreed order that were included in the jury charges:
A deed was recorded by the county clerk purportedly executed by the plaintiff that named defendant as the grantee ...
- 41
9
votes
3
answers
2k
views
What is a charity?
Without legal rigour, defining a charity is relatively straightforward. However, legally there are many ways to set one up. According to the gov.uk website, in the United Kingdom the four most common ...
- 7,193
1
vote
0
answers
34
views
CA law: Ultimate/Residual beneficiary: Rights to financial docs of the trust? [closed]
I am the ultimate or residual beneficiary of a trust that currently supports a parent.
Do I have a right to see the expense ledger of the trust?
I have a concern about what the trustee is paying ...
2
votes
1
answer
174
views
What are the variety of notary "For..." statements used for?
What kind of documents would these notary statements be most appropriate for? I'm thinking of documents like witness testimony, wills, trusts, asset ownership, statements, LLC, events, etc.
"For ...
- 587
4
votes
1
answer
226
views
How does the Iranian private law concept of Habs (حبس) compare to a life estate in common law?
I am a licensed attorney in Iran with over 25 years of experience in private law. I’m exploring how Iranian private law concepts compare to common law.In Iranian private law, Habs (حبس) allows the ...
- 1,119
3
votes
1
answer
94
views
How Flexible Can Beneficiaries Be in a Discretionary Trust?
In a discretionary trust, how much can the group of beneficiaries change while still passing the "Is or Is Not" test? For example, if a settlor creates a trust for a tree he owns and says ...
- 1,119
5
votes
1
answer
324
views
What is the difference between trust and waqf in legal terms?
I am interested in understanding the key distinctions between a trust, which is commonly used in common law systems, and a waqf, which is a religious endowment under Islamic law. Specifically, I would ...
- 1,119
1
vote
1
answer
277
views
What counts as ownership of a home?
Please consider the following hypothetical situation:
Mary is a widow, and her daughter Sharon lives with her in Mary's house. All of Mary's assets are inside a living revocable trust. The terms of ...
- 1,913
0
votes
2
answers
223
views
Can Bob use the family trust money, as trustee, to rebuild a house owned by the trust after a fire?
Hypothetical Example
Bob lives in a house that is owned by the family trust, Bob is the trustee and his brother Nick is the other beneficiary. Recently the house burned down and Bob collected some of ...
- 129
5
votes
2
answers
484
views
What happens to beneficial interests when a trust is brought to an end prematurely?
It is well established that the beneficiaries can end the trust by calling for a transfer of trust property to themselves if all the beneficiaries under the trust who could possibly become entitled ...
- 7,193
0
votes
2
answers
120
views
Priority of payment of decedent's debt to different government agencies
31 U.S. Code § 3713(1)(B) (Priority of Government Claims) reads in part:
A claim of the United States Government shall be paid first when . . .
the estate of a deceased debtor, in the custody of the ...
- 3,078
21
votes
1
answer
5k
views
How can Rupert Murdoch be having a problem changing the beneficiaries of his trust?
I do not understand how Rupert Murdoch could be having problems (and a court fight) trying to change the beneficiaries of his (living) trust. Isn't it standard to include provisions in trust documents ...
- 7,396
10
votes
4
answers
3k
views
How can one be compensated for loss caused negligently by someone who dies in the process?
Consider the circumstance where an at-fault driver negligently collides with an innocent driver, but the at-fault driver dies.
Perhaps there is even evidence that the at-fault driver committed a crime ...
- 101
0
votes
1
answer
129
views
"If this was right, it would mean that equitable rights could not form the subject-matter of a trust"
I'm stymied on these quotations below by William Swadling†. I know that a sub-trust can hold Equitable Rights. But why would the proposition in italics "mean that equitable rights could not form ...
- 77