
Indiana, as the Assignors, Whether One or More, and , as Trustee Form


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People also ask
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How do co-trustees work together?
A co-trustee is one of multiple trustees serving simultaneously, typically with equal powers and duties. They share the responsibility of managing the trust's assets. Sometimes, a co-trustee can temporarily step in if the primary trustee is unavailable, such as during an illness.
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Do co-trustees have to act unanimously?
In California, trust law dictates that co-trustees must act unanimously. However, if the trust document states that they can act independently, the trust will trump California trust law.
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What is the difference between a trustee and assignee?
Alternatively, the Court may appoint a private trustee to administer the bankrupt's affairs if the petitioning creditor so requests. The Official Assignee acts as the receiver of the bankrupt's estate.
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Are trustees jointly liable?
Liability of unincorporated associations and trusts Liability is joint and several, and generally rests with the members of the GB.
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Do co trustees have to act jointly in Indiana?
Trusts and Fiduciaries § 30-4-3-4. Unless the terms of the trust provide otherwise: (a) Any power vested in two (2) trustees must be exercised by them jointly; any power vested in three (3) or more trustees must be exercised by a majority.
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What is the Indiana Code 30 5 4 1?
Section 30-5-4-1 - Validity of power; conditions (a) To be valid, a power of attorney must meet the following conditions: (1) Be in writing. (2) Name an attorney in fact. (3) Give the attorney in fact the power to act on behalf of the principal.
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What is the Indiana Code 30 5 5 2?
(1) Accept as a gift or as security for a loan, to reject, demand, buy, lease, receive, or otherwise acquire either ownership or possession of an estate or interest in real property.
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What happens if co-trustees disagree?
Best case scenario is that court intervention is sought to resolve a specific dispute. However, a serious conflict between co-trustees leads to a stand-still in the administration of the trust. In such cases, one or more co-trustees may seek to remove another co-trustee.
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