Who is considered an heir to an estate?
An heir is a person who is legally entitled to collect an inheritance when a deceased person did not formalize a last will and testament. Generally speaking, heirs who inherit the property are children, descendants, or other close relatives of the decedent.
Who is the executor and trustee of my father’s trust?
A: As Executor or Trustee (I think you mean Trustee of your father’s Trust) your sister ultimately is responsible for handling your father’s Trust. While she can get your input, she will be responsible for making the final decisions.
What happens to your father’s trust when he dies?
If your father’s Trust terminates upon his death, she should get your and your other sibling’s input as the sale decision will directly affect your inheritance.
Who is the legal owner of a trust?
The trustee acts as the legal owner of trust assets, and is responsible for handling any of the assets held in trust, tax filings for the trust, and distributing the assets according to the terms of the trust.
Who are the beneficiaries of a trust when the grantor dies?
Sometimes two or more adult children are named to act together. Sometimes a corporate trustee (bank or trust company) is named. Sometimes it is a combination of the two. The beneficiaries are the persons or organizations who will receive the trust assets after the grantor dies.
Who is the executor and trustee of my fathers estate?
My brother has been appointed trustee/executor of my fathers trust/estate. My father had a large estate of cars, antique guns, planes, property etc. It appears that my brother just plans on taking whatever he wants and not discussing with me or my other brother.
Who is the successor trustee of the living trust?
Leo may be contacted at (831) 768-9110 or https://www.legalsiegel.org. A case study of a successor trustee of his father’s living trust. The trust appointed his son as the successor trustee. At the time his father died, his sister lived in the family home. The siblings are adults.
The trustee acts as the legal owner of trust assets, and is responsible for handling any of the assets held in trust, tax filings for the trust, and distributing the assets according to the terms of the trust.
Sometimes two or more adult children are named to act together. Sometimes a corporate trustee (bank or trust company) is named. Sometimes it is a combination of the two. The beneficiaries are the persons or organizations who will receive the trust assets after the grantor dies.