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Old 10-07-2007, 06:43 AM
Bill Brown
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Default Re: Terminology: "execute trust"?

"nomail1...[at]hotmail.com" <nomail1...[at]hotmail.com> wrote:

- quote -

> I am looking for similar terminology that describes the
> process of distributing the assets in the trust and closing
> the trust.


Estates and trusts are not within my areas of expertise but
I would describe this process as "distributing the assets in
the trust and closing the trust."

Why is the answer important? Or are you just curious?

Regards,
Bill

<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >
  #3  
Old 10-07-2007, 06:43 AM
Stuart Bronstein
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Default Re: Terminology: "execute trust"?

nomail1983[at]hotmail.com wrote:

- quote -

> I neglected to say that this is an Estate Planning Trust.
> When someone dies, we speak of "probating his estate".
> I am looking for similar terminology that describes the
> process of distributing the assets in the trust and closing
> the trust.


It doesn't matter what kind of trust it is. As someone else
already noted, the best is "administer the trust."

Stu

<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >
  #2  
Old 10-07-2007, 02:27 AM
nomail1983@hotmail.com
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Default Re: Terminology: "execute trust"?

I wrote:

- quote -

> What is called when you follow the terms of a trust
> after the grantor dies? "Execute the trust"? "Execute
> the terms of the trust"? Both? Something else?


I neglected to say that this is an Estate Planning Trust.

When someone dies, we speak of "probating his estate".

I am looking for similar terminology that describes the
process of distributing the assets in the trust and closing
the trust.

<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >
  #1  
Old 10-06-2007, 04:04 AM
Gil Faver
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Default Re: Terminology: "execute trust"?

<nomail1983[at]hotmail.com> wrote:

- quote -

> What is called when you follow the terms of a trust
> after the grantor dies? "Execute the trust"? "Execute
> the terms of the trust"? Both? Something else?


once a trust is created, the trustee must "follow the terms
of the trust", both before and after any relevant death.

<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >
 
Old 10-06-2007, 04:04 AM
Mark Bole
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Posts: n/a
Default Re: Terminology: "execute trust"?

nomail1983[at]hotmail.com wrote:

- quote -

> What is called when you follow the terms of a trust
> after the grantor dies? "Execute the trust"? "Execute
> the terms of the trust"? Both? Something else?


The trustee is said to "administer" the trust.

-Mark Bole

<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >
  #-1  
Old 10-05-2007, 04:22 AM
nomail1983@hotmail.com
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Posts: n/a
Default Terminology: "execute trust"?

What is called when you follow the terms of a trust
after the grantor dies? "Execute the trust"? "Execute
the terms of the trust"? Both? Something else?

<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >
 

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