A trust is the legal relationship between one person, the trustee, having an equitable ownership or management of certain property and another person, the beneficiary, owning the legal title to that property. The beneficiary is entitled to the performance of certain duties and the exercise of certain powers by the trustee, which performance may be enforced by a court of equity. This form is an example of a trust that is subject to direct court oversight since the initial trust funds resulted from a civil judgment in favor of a minor.
Washington Trust Agreement for Funds for Recovery of Judgment for Minor
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How to fill out Trust Agreement For Funds For Recovery Of Judgment For Minor?
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Your rights as the beneficiary of an estate plan in Washington. As a beneficiary in Washington, you have several rights. At the most basic level, you are entitled to receive information about the estate and its administration. You also have a right to an accounting of the estate's assets, debts, and distributions.
Why Have a Revocable Living Trust? During Life. Provides Asset Management upon Disability. Allows Clearer Accounting & Avoids Commingling of Separate Property. At Death. Avoids the Necessity of a Washington (ie, ?Home State?) Probate. Avoids the Necessity of a Probate in any Other State in which You Own Real Property.
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.
Within four months of its inception, a charitable trust must file the Application for Registration as a Charitable Trust, a copy of the trust instrument, and a $25 dollar filing fee made payable to the Secretary of State.
Certain elements are necessary to create a legal trust. The basic elements include a trustor, a trustee, one or more beneficiaries, trust property, and generally a written trust agreement. The person who creates a trust is called a trustor. This person may also be referred to as the ?grantor? or ?settlor?.