Easily Remove Currency from the Pour-Over Will

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How to Remove Currency from the Pour-Over Will

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hi everyone my name is armanei bazikin and this month were going to talk about what happens when a loved one passes away and they actually did proper planning they have a will and a trust in place so in previous months weve spoken about how a will by itself doesnt really do much by way of helping you avoid the probates probate systems and weve also spoken about how not having a will again doesnt help so in this scenario we envision a person who has preemptively gone into an attorney created a will and a trust of some sort and funded it correctly so were assuming everything is done correctly so if you pre-plan meaning you think ahead of time about whats going to happen after your death and you go in and you talk to you know one of our attorneys and you sit there and you plan out what you want to happen in an ideal situation assuming everything is absolutely to your liking when youre gone all that needs to be done is your trust needs to be administered this trust administration p

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Below are some common questions from our customers that may provide you with the answer you're looking for. If you can't find an answer to your question, please don't hesitate to reach out to us.

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Can a trustee withhold money from a beneficiary?

Generally speaking, a trustee cannot withhold money from a beneficiary unless they are acting in ance with the trust. If the trust does not indicate any conditions for dispersing funds, the trustee cannot make them up or follow their own desires.

What is a drawback of a pour-over will?

The main downside to pour-over wills is that (like all wills), the property that passes through them must go through probate. That means that any property headed toward a living trust may get hung up in probate before it can be distributed by the trust.

Can a trustee ignore a beneficiary?

Yes, a trustee can refuse to pay a beneficiary if the trust allows them to do so. Whether a trustee can refuse to pay a beneficiary depends on how the trust document is written. Trustees are legally obligated to comply with the terms of the trust when distributing assets.

Why do people leave one dollar in their will?

There is a longstanding line of thinking that has persisted for as long as anyone remembers in estate planning law that you should disinherit someone by leaving that person $1. The theory goes that this stops them from contesting your will because they have not been disinherited; they have been left a monetary gift.

What rights does a beneficiary have over a trustee?

As a beneficiary, you are entitled to a trustee who performs his or her duties in a reasonable amount of time, protects the trust assets for your benefit and treats you with respect. The trustee is required to put your interests and the trusts before the trustees interest.

Can a trustee take money out of an account?

However, a trustee cannot withdraw money from a trust on their behalf. It must be done on behalf of the trust. Essentially, this means the investments they make with the funds in a trust must benefit the trust and the beneficiaries. If a trustee uses trust funds for their benefit it is a bdocHub of their fiduciary duty.

Should I leave dollar amounts or percentages in my will?

Attorney Katelyn Doyle recommends using a percentage rather than a dollar amount in your will. That allows the amount given to charity to go up or down with the size of the estate, and prevents a situation from arising where there are no assets available for other beneficiaries once the charitable bequest is paid.

Can a trustee take money from a beneficiary?

It is unacceptable for a trustee to withdraw funds to borrow or use for personal reasons other than what is outlined in your trust. It is an unwise decision and could be caught during a trust accounting, which is an annual requirement needed in the state of California.

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