Trust Law and Estate
When a person inherits a trust that is held by a bank...why does the bank remain trustee and the trust does not liquidate? There are no other inheritors even after my dimiss.
Asked on 8/29/08, 10:03 am
1 Answer from Attorneys
Frank J. Pyle
Probate Attorney Throughout Florida
Re: Trust Law and Estate
No one "inherits" a trust. The distribution of the trust assets and who is trustee are dictated by the terms of the trust. You may be the only beneficiary, but the trust terms may require that the assets remain in the trust until some later date. You need to read and/or have an attorney read and interpret the terms of the trust instrument.
Answered on 8/29/08, 1:09 pm
Related Questions & Answers
-
Moms condo my mom is going into a nursing home, she has no assets except the condo... Asked 8/28/08, 10:49 pm in United States Florida Elder Law
-
Can i sue judge,gaurdian&her lawyer? i was a friend and then a care giver to a... Asked 8/28/08, 1:54 am in United States Florida Elder Law
-
Guidienship for elderly mother what is required to obtaine guidienship from and... Asked 8/24/08, 12:39 pm in United States Florida Elder Law
-
Durable power of attorney Can principal still sign legal documents without notifying... Asked 8/18/08, 4:42 pm in United States Florida Elder Law
-
Power of Attorney Responsibilities My husband's grandmother signed over power of... Asked 8/09/08, 4:58 pm in United States Florida Elder Law
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
