Trusts / Guardianship Essays

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  1. If grandfather dies and leaves a ton of money to minor grand children, who does the executor have to give the money to?
    • A DULY APPOINTED GUARDIAN OF THE ESTATE 
    • Not neccessarily the parents!
  2. who may be named trustee of a management trust?
    • 1. a BANK; or 
    • 2. a TRUST COMPANY
  3. what does an exculpatory clause not protect a trustee from liability?
    • bad faith;
    • actions taken with reckless indifference to benef's interests;
  4. what does an exculpatory clause not protect a trustee from liability?
    • ◦ bad faith;
    • ◦ actions taken with reckless indifference to benef's interests;
  5. what does applicant for guardianship over an incapacitated person need to include?
  6. ◦ 1. a doctor's certification based on an examination done within 4 MONTHS of the application
    • ◦ 2. must include DETAILED INFORMATION (nature, degree, severity of incapacity)
    • ◦ 3. the proposed ward's ability to handle biz and financial matters 
    • ◦ 4. any physical or mental conditions of the disability;
  7. what does applicant need to prove to be apt guardian of person/state?
    whats the standard of proof?
    • CLEAR AND CONVINCING EV:
    • 1. that person is incapacitated;
    • 2. that it's in person's best interest to have a guardian appointed;
    • 3. that person's rights and ppt will be protected by the appointment of a guardian. 
    • PREPONDERANCE OF THE EV
    • 1. that person lacks some or all capacity to care for self and ppt;
    • 2. that applicant is eligible to be appointed guardian;
    • 3. naming applicant as guardian is in person's best interest. 
  8. who is disqualified from being a guardian?
    • 1. lacks capacity (a minor);
    • 2. lacks experience to properly and prudently manage;
    • 3. has a conflict of interest;
    • 4. is a non-resident w/o a resident agent;
    • 5. has been expressly disqualified
  9. who must the court appoint in a proceeding for the apppointment of a guardian?
    an ATTY AT LITEM
  10. how does one become eligible to serve as an atty at litem?
    atty must be CERTIFIED BY THE STATE BAR IN GUARDIANSHIP LAW AND PROCEDURE.
  11. what is a purchase money resulting trust?
    • Created when title to ppt is given to another person who is not the purchaser of the ppt.
    • - presumption of gift arises if title is given to a family member
    • - a presumption of MPRT if title is given to lawyer or friend.

Card Set Information

Author:
texasstudent
ID:
315713
Filename:
Trusts / Guardianship Essays
Updated:
2016-02-11 23:35:57
Tags:
TX
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Description:
Trusts / Guards
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