A trust can be contested in a special proceeding. There is no blanket rule that a living trust cannot be contested.
Most real estate forms must be notarized to be recorded in the land records. Examples are deeds and mortgages. Forms that will not be recorded generally do not have to be notarized, such as a lease form.
A settlement agreement regarding an automobile accident would normally contain language similar to the following: “For and in consideration of the sum of $____________cash in hand paid, the receipt and sufficiency of which is hereby acknowledged, the undersigned (name of plaintiff) does hereby release, acquit and forever discharge (name of defendant) from any and all losses, injuries, claims, demands, actions, causes of action, payments, costs, expenses, damages, liability, or grievances of any nature whatsoever which he/she has had, which he/she may now have, or which he/she may hereafter have, which in any manner pertain to, relate to, or arise from any personal injury known and unknown, property damage, known and unknown, or any other loss of any nature whatsoever sustained as a result of the aforesaid vehicular accident which occurred on or about (date) involving the vehicle driven by said defendant and the vehicle driven by said plaintiff.”
A disclosure statement, as used in the real estate context, is a form the seller of property must complete and provide to the buyer disclosing to the buyer all defects and various other information about the residential property.
A living trust is a trust established during a person’s lifetime in which a person’s assets and property are placed within the trust, usually for the purpose of estate planning. The trust then owns and manages the property held by the trust through a trustee for the benefit of named beneficiary, usually the creator of the trust (settler). The settler, trustee and beneficiary may all be the same person. In this way, a person may set up a trust with his or her own assets and maintain complete control and management of the assets by acting as his or her own trustee. Upon the death of the person who created the trust, the property of the trust does not go through probate proceedings, but rather passes according to provisions of the trust as set up by the creator of the trust.
A Trust is an entity which owns assets for the benefit of a third person (beneficiary). A Living Trust is an effective way to provide lifetime and after-death property management and estate planning. When you set up a Living Trust, you are the Grantor; anyone you name within the Trust who will benefit from the assets in the Trust is a beneficiary. In addition to being the Grantor, you can also serve as your own Trustee (Original Trustee). As the Original Trustee, you can transfer legal ownership of your property to the Trust. This can save your estate from estate taxes when you die. Just remember that it does not alleviate your current income tax obligations.
A trust created during the maker’s lifetime that does not allow the maker to change it.
A warranty deed assures the buyer that the seller will defend his title to the property from all other persons. A quitclaim deeds conveys whatever title the seller owns but with no warranty against the claims of others.
State laws vary but generally provide that a person must be at least 18 years of age to execute a Will. Some states provide that a person 16 years old may execute a will.
