Maine Certificate of Trust with Real Property as Part of the Corpus

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Multi-State
Control #:
US-01183BG
Format:
Word; 
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Description

A certificate of trust is a shortened version of a trust that verifies the trust's existence, explains the powers given to the trustee, and identifies the successor trustee(s). A certificate of a trust agreement which conveys or contains an interest in real property must generally be recorded in the office of the county clerk where deeds are recorded and the property is located.


This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.

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FAQ

Spouses in Maine Inheritance Law If you die intestate, your spouse's inheritance depends on whether or not you have living parents or descendants. Descendants include children, grandchildren, and great-grandchildren. If you have no living parents or descendants, your spouse inherits all intestate property.

A certification of trust provides information regarding the settlor of the trust, the acting trustee, and the power and authority of the trustee to manage and invest trust property or to act with respect to a specific transaction.

In Maine, you can make a living trust to avoid probate for virtually any asset you own?real estate, bank accounts, vehicles, and so on. You need to create a trust document (it's similar to a will), naming someone to take over as trustee after your death (called a successor trustee).

Under current Maine law, creditors have a maximum time limit of 9 months from the date of death to present their claims to the Personal Representative. The 9-month period can be shortened if you provide a written notice to the creditor and request that the creditor promptly file the claim.

If the Will names a ?Personal Representative? - sometimes called ?Executor? or ?Executrix? then the court will legally appoint that person to take care of the estate. If the Will does not name a Personal Representative, the court will appoint someone to do this job ing to Maine law.

In this chapter the following definitions apply. A. "Spouse" means a person legally married to the actor, but does not include a legally married person living apart from the actor under a defacto separation. [PL 1975, c. 499, §1 (NEW).]

"Devisee" means any person designated in a will to receive a devise. For the purposes of Article 3, in the case of a devise to an existing trust or trustee, or to a trustee or trust described by will, "devisee" includes the trust or trustee but not the beneficiaries.

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Maine Certificate of Trust with Real Property as Part of the Corpus