Can You Be Both Trustee and Beneficiary of a Trust in Florida?
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- čas přidán 5. 08. 2024
- Any individual may be a trustee and a beneficiary of a trust assuming that the trust agreement names other lifetime beneficiaries or successor beneficiaries after the death of the initial beneficiaries.
For example, suppose a client wanted to serve as trustee of an irrevocable trust created for his benefit. The client’s general attorney cautioned him that he could not serve simultaneously as a beneficiary and as a trustee, and that if he did occupy both positions the trust would automatically dissolve because of the legal “doctrine of merger.”
My in-depth guide to serving as both trustee and beneficiary of a trust: www.alperlaw.com/blog/can-sam...
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Question: Does the defendant ever need to attend actual court proceedings in a Trust dispute matter? Or is everything handled through lawyers??
Florida trust code clearly states the same person cannot be a trustee and a beneficiary.
Can a single member LLC that you own be the trustee and you be the beneficiary? If so, can that LLC be a Wyoming LLC or does it have to be a FL LLC?