Washington Order Approving Trust And Granting Other Relief is a legal document issued by the Washington State Superior Court. The order is issued when a party petitions the court to create a trust, and the court grants approval. It also grants other forms of relief, such as the appointment of a trustee, the transfer of assets to the trust, or the modification of an existing trust. There are two main types of Washington Order Approving Trust And Granting Other Relief: 1) Revocable Trust and 2) Irrevocable Trust. A Revocable Trust is one that can be changed or revoked by the creator of the trust, while an Irrevocable Trust is one that cannot be changed or revoked by the creator. In either case, Washington Order Approving Trust And Granting Other Relief grants the petitioner relief by creating, modifying, or transferring the trust assets.
Washington Order Approving Trust And Granting Other Relief
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FAQ
Can a Beneficiary Override a Trustee? No, beneficiaries generally cannot override a trustee unless the trustee fails to follow the terms of the trust instrument or breaches their fiduciary duty.
Trustee misconduct occurs when a trustee acts with negligence or incompetence in the course of performing their duties and responsibilities as a trustee.
The short answer is yes. Trust beneficiaries may bring a claim against a trustee so long as they have a valid reason.
When a trust breach occurs, a probate court can impose serious consequences and penalties, including suspension or removal as trustee or being surcharged ? probate for being ordered to pay money ? for damages caused by the breach. In rare and extreme cases, trustees can even face criminal charges.
When a trustee fails in his or her duties, it is referred to as breach of fiduciary duty. Breach of fiduciary duty can come in many forms. Sometimes, the trustee will flat out take money from the trust.
The Washington Trust Act is RCW 11.98. A person requires testamentary capacity to create, amend, revoke, or add property to a revocable trust (RCW 11.103. 020). A revocable trust must expressly state that it is revocable in order to be so (RCW 11.103.
TEDRA provides procedures for dispute resolution. Since the Trust and Estate Dispute Resolution Act (TEDRA) came into effect, estate practitioners have had a specific framework for dealing with conflicts concerning wills, intestate estates and trusts in Washington.
Trustees must follow the terms of the trust and are accountable to the beneficiaries for their actions. They may be held personally liable if they: Are found to be self-dealing, or using trust assets for their own benefit. Cause damage to a third party to the same extent as if the property was their own.