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How do co-trustees make decisions?

Generally, co-trustees must agree when making decisions, either unanimously or by majority. The statutory default is by majority when there are at least three trustees and unanimous if only two trustees. However, the terms of the trust control. Sometimes we draft trusts to allow one co-trustee to act independently.

Can trustees act alone?

Can a co-trustee act alone? The answer to this is No unless the Trust document states otherwise. In the case where the Trust does not explicitly state, the Trustee and the co-trustee should make all decisions unanimously to push the trust administration process forward.

When a husband dies what is the wife entitled to in Nevada?

First, if you have no children and die intestate in Nevada, your spouse would inherit your entire estate. But if you die leaving behind a spouse and one child, your spouse inherits all of your community property and half of your separate property, leaving your child the latter half of your separate property.

When a husband dies what is the wife entitled to in Utah?

Your spouse will inherit the first $75,000 of your intestate property, and half of what remains of your intestate property after that. Your descendants will then inherit everything else. In Utah, the value of non-probate transfers count as part of the intestate estate.

How do I set up a living trust in Utah?

To make a living trust in Utah, you: Choose whether to make an individual or shared trust. Decide what property to include in the trust. Choose a successor trustee. Decide who will be the trusts beneficiariesthat is, who will get the trust property. Create the trust document.

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