If there is no formal agreement co-owners of real estate sometimes find themselves in dispute on a variety of issues relating to their joint venture property.
Income earned by a trust can be either retained by the trust or it can be distributed to the trust’s beneficiaries.
The present economic downturn has thrown up the problem of what to do when a settlor and/or a trustee becomes bankrupt. This article looks at possible remedies for both situations.
In the last issue of Trust eSpeaking (September 2008), we discussed the scenario that often occurs when trustees provide funds to beneficiaries, for example, to help in the purchase of a house.