what are the requirements of a trustee?
533663
['Choose someone who is trustworthy. The most important qualification of a trustee is that they be trustworthy. ... ', 'Choose someone who is financially responsible. ... ', 'Choose someone who is available.']
1453855
['the testator (the creator of the will) must be at least 18 years old;', 'The testator must be of sound mind and have the mental capacity to understand the consequences of his or her actions,', 'the will must be signed by the testator in the presence of at least two witnesses, who must also contemporaneously sign the will.']
307323
Grantor: the person who sets up the trust. ... Trustee: the person designated to manage the trust assets. In a Revocable Living Trust, the grantor and the trustee are usually the same person. Successor Trustee: the person who will manage the trust assets when the grantor dies (or becomes incapacitated.)
529265
Trustee: a person or persons designated by a trust document to hold and manage the property in the trust. Beneficiary: a person or entity for whom the trust was established, most often the trustor, a child or other relative of the trustor, or a charitable organization.
178496
['have the right to work in the UK.', 'have been a UK resident for at least 3 years (High security estate only)', 'be the minimum age of 18.', 'pass security and identity checks prior to taking up the post.', 'pass a health screening and a fitness test.', 'pass a 12-month probationary period.']
1333050
As trustee, before you begin to transfer these assets into the trust, you must have key documents handy, including a certified copy of the trust instrument, the Federal Taxpayer Identification Number, and proof of ownership.
1221419
When you've passed, the successor trustee – effectively the “executor” of your trust – is responsible for managing your trust and its assets. ... Instead of shepherding your estate through the probate process, however, a trustee manages your trust until the assets can be distributed to your beneficiaries.
403132
The creation of express trusts in English law must involve four elements for the trust to be valid: capacity, certainty, constitution and formality. Capacity refers to the settlor's ability to create a trust in the first place; generally speaking, anyone capable of holding property can create a trust.
717575
There are several parties that make up a trust structure, each serving a different role. The 'trustee' is the person who distributes the trust's assets to the beneficiaries. A trustee can be either a real person, known as an 'individual trustee', or a company, known as a 'corporate trustee'.
1090825
The trustees of a trust or of an unincorporated association are in a different position because under trust law the minimum age for trustees is 18. If you have decided that it is appropriate for your charity to appoint someone under 18 to be a trustee, the charity must be formed as a company limited by guarantee.
45723
['With total assets of between P3 million and P350 million or total liabilities of between P3 million and P250 million;', 'That is not required to file financial statements under SRC Rule 68.1;']
436820
The general duties of trustees are: ... To provide information - Trustees must keep clear and accurate accounts for the trust and provide beneficiaries with any information or documents relating to the trust that they ask for. To act unanimously - Trustees must act unanimously unless the trust deed says otherwise.
1379149
The trustee's fiduciary duties include a duty of loyalty, a duty of prudence, and subsidiary duties. The duty of loyalty requires that the trustee administer the trust solely in the interest of the beneficiaries.
986379
Current beneficiaries are entitled to an accounting. ... Usually trustees are required to provide an accounting annually, but that may vary, depending on the terms of the trust. Beneficiaries may also be able to waive the accounting.
637390
['Creating the Trust Agreement. The grantor creates a trust agreement, which is a legal document that designates the grantor, the trustee, and the beneficiaries, and outlines how the trust assets are to be managed and distributed. ... ', 'Funding the Trust.']
740082
['an interest in possession trust.', 'an accumulation trust.', 'a discretionary trust.']
1454018
['be 18 years of age or older,', 'be mentally capable,', 'be aware of the property you own and its general value,', 'understand what it means to appoint an attorney,', 'know what authority you are giving your attorney, and.']