Palm Beach Florida Special Cemetery Gift Trust Fund

Name: Palm Beach Florida Special Cemetery Gift Trust Fund
Brand: US Legal Forms
Rating: 4.88 (378 reviews)

Category:

Trusts - Cemeteries

State:

Multi-State

County:

Palm Beach

Control #:

US-00767BG

Format:

Instant download

Description

The following form is a sample of a possible trust fund set up by family members of people interred in a cemetery who wish to restore the cemetery and provide for its maintenance.

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FAQ

Special needs trusts pay for comforts and luxuries -- "special needs" -- that could not be paid for by public assistance funds. This means that if money from the trust is used for food or shelter costs on a regular basis or distributed directly to the beneficiary, such payments will count as income to the beneficiary.

A Special Disability Trust is a trust established primarily for succession planning by parents and immediate family members for the current and future care and accommodation needs of a person with a severe disability or medical condition.

The Trustee's Basic Duties Respond to the beneficiary's personal needs for goods and services that aren't covered by SSI or Medicaid. Keep up with SSI and Medicaid income and resource rules so that the trustee's spending doesn't affect the beneficiary's eligibility for SSI and Medicaid.

Differences Between Trusts The main difference between trusts is how they were funded. In other words, who owned the assets to create the trust? In a special needs trust, the money came from a person with disabilities. The money can be from an inheritance or personal injury settlement.

Like all trusts, a special needs trust is organized around the people in three roles: a settlor (also called grantor) who creates the trust and provides the money. a beneficiary (the person with the disability), and. a trustee, who manages the money for the sole benefit of the beneficiary.

The trustee's fiduciary duties include a duty of loyalty, a duty of prudence, and subsidiary duties. The duty of loyalty requires that the trustee administer the trust solely in the interest of the beneficiaries.

A trustee takes legal ownership of the assets held by a trust and assumes fiduciary responsibility for managing those assets and carrying out the purposes of the trust.

Duties and Powers of the Trustee. In general, a trustee's duties are to administer the trust; specifically to hold, administer and distribute the assets of the trust estate in accordance with the trust agreement and applicable law.

3.1 Who can gift to a Special Disability Trust? Anyone can gift to a Special Disability Trust except the beneficiary (ie the person with disability), their partner (if any) and the settlor.

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In order to develop a truly "comprehensive" plan, Palm Beach County has included optional elements in the Comprehensive Plan. Once the trust term is complete, the remaining funds are given to Caridad.These trusts may also provide gift and estate tax benefits. Special regulations apply within certain zoning districts as specified under Art. 200 pagesMissing: Palm ‎Beach 81 legal authority, short of a court deci8i.on. For carrying out administrative duties. Donations are tax-deductible.

Palm Beach Florida Special Cemetery Gift Trust Fund

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What can money in a special needs trust not be used for?

What type of trust is a special disability trust?

What are the responsibilities of a trustee of a special needs trust?

What is the difference between a trust and a special needs trust?

Who controls the money in a special needs trust?

What are the three duties of a trustee?

What is the legal role of a trustee?

What are the standard powers and duties of a trustee?

Who can gift to a special disability trust?

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What is the Palm Beach Special Cemetery Gift Trust Fund802877?

Why was the fund named 'Gift Trust Fund802877'?

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