Posts tagged with "beneficiaries"

How Is a Trust Established in Connecticut?

A trust is established through a written document that names the parties to the trust and governs how the assets comprising the trust are to be used.  The parties are the trustee, who is responsible for administering the trust, and the beneficiaries for whose benefit the trust has been established.

If you have any questions related to trusts in Connecticut, please contact Joseph C. Maya, Esq. at (203) 221-3100 or e-mail him directly at JMaya@Mayalaw.com.

What Is a Trust in Connecticut?

A trust is a mechanism (set out in a document) that allows you to give assets to another person but still direct how those assets are to be used.  The person giving the assets, who is referred to as the settlor, selects a third party, the trustee, to administer the trust and distribute the assets to the beneficiaries in accordance with the settlor’s wishes.  Accordingly, if you (the settlor) set up a trust to pay for your children’s (the beneficiaries) post-graduate education, the trustee may only distribute assets for this purpose.

If you have any questions related to trusts in Connecticut, please contact Joseph C. Maya, Esq. at (203) 221-3100 or e-mail him directly at JMaya@Mayalaw.com.

What Is a Trust in Connecticut?

A trust is a mechanism (set out in a document) that allows you to give assets to another person but still direct how those assets are to be used.  The person giving the assets, who is referred to as the settlor, selects a third party, the trustee, to administer the trust and distribute the assets to the beneficiaries in accordance with the settlor’s wishes.  Accordingly, if you (the settlor) set up a trust to pay for your children’s (the beneficiaries) post-graduate education, the trustee may only distribute assets for this purpose.

If you have any questions related to trusts in Connecticut, please contact Joseph C. Maya, Esq. at (203) 221-3100 or e-mail him directly at JMaya@Mayalaw.com.