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The grantor can set up the trust, so the money distributes directly to the beneficiaries free and clear of limitations. The trustee can transfer real estate to the beneficiary by having a new deed written up or selling the property and giving them the money, writing them a check or giving them cash.
Marriage invalidates a Will, unless it was written in contemplation of the union. This means that if youre getting married or youve recently said I do you need to make a new Will. Otherwise, your estate will be distributed according to the rules of intestacy after your death.
The testators marriage does not revoke a prior made will. KRS 394.090. When the testator dies before providing for his new spouse, the law assumes that he would prefer to die with a will that does not completely reflect his wishes than with no will at all.
Trust funds include a grantor, beneficiary, and trustee. The grantor of a trust fund can set terms for the way assets are to be held, gathered, or distributed. The trustee manages the funds assets and executes its directives, while the beneficiary receives the assets or other benefits from the fund.
Under the new rules, marriage occurring on or after January 1, 2022 does not revoke an existing Will in Ontario and a Will made before marriage will continue to be valid. Previously in Ontario, if you made a Will prior to being married, it would be revoked (or invalidated) upon marriage.
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Yes, you could withdraw money from your own trust if youre the trustee. Since you have an interest in the trust and its assets, you could withdraw money as you see fit or as needed. You can also move assets in or out of the trust.
A trust allows you to be very specific about how, when and to whom your assets are distributed. On top of that, there are dozens of special-use trusts that could be established to meet various estate planning goals, such as charitable giving, tax reduction, and more.
To make a living trust in Kentucky, 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.
A Kentucky living trust can be created by anyone over age 18 of sound mind, called the settlor. The settlor decides what assets to place in the trust and names a trustee who will manage the assets. Anyone can be a trustee, but it is common to name yourself, with a successor trustee in place to step in after your death.
A will can be declared invalid if the statutory formalities were not followed at the time of signing. These defects may include the absence of required witnesses, a forged signature, or the testators lack of legal authority to make one or more bequests in the will.

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