Trustee and licence of Deposit?
If a being have a licence of Deposite at a edge. And this licence be a contribution for a grandchild but an uncle or parent be name as trustee within casing the grandparent dies. can the trustee currency this licence and not pass it to the child whom it be intended for.
Answers:
It depends.
If they are only just on the depiction, they could lolly it and it would be firm to do anything in the order of it.
If they are a formal Trustee, consequently they could still currency it, and be sent to Jail for doing it.
They sure could...it would be incredibly confident for the trustee to close out the disc at the time of old age and bring the dosh.
yes they can..
no, not if the child is scheduled as beneficiary
He could, but once the kid hits 18 he could find the courts involved, and would probably win.
A trustee have a fiduciary responsibility to the child to be precise taken seriously by the courts and the taxman.
It really depends on exactly how the tag of deposit is titled. If the disc it titled John Doe In Trust For Baby Doe, the compact disc in truth belongs to John and when John pass, Baby Doe is entitled to the money. If it is titled as an UGMA vindication (Uniform Gift to Minors Account) and John Doe cashes it out he would own to prove that the money be spent on the child.
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Answers:
It depends.
If they are only just on the depiction, they could lolly it and it would be firm to do anything in the order of it.
If they are a formal Trustee, consequently they could still currency it, and be sent to Jail for doing it.
They sure could...it would be incredibly confident for the trustee to close out the disc at the time of old age and bring the dosh.
yes they can..
no, not if the child is scheduled as beneficiary
He could, but once the kid hits 18 he could find the courts involved, and would probably win.
A trustee have a fiduciary responsibility to the child to be precise taken seriously by the courts and the taxman.
It really depends on exactly how the tag of deposit is titled. If the disc it titled John Doe In Trust For Baby Doe, the compact disc in truth belongs to John and when John pass, Baby Doe is entitled to the money. If it is titled as an UGMA vindication (Uniform Gift to Minors Account) and John Doe cashes it out he would own to prove that the money be spent on the child.