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Indemnity of a retiring trustee refers to the legal protection or compensation provided to a trustee who is stepping down from their role, ensuring they are not held liable for actions taken during their tenure. This typically involves the trust estate covering any potential claims or liabilities arising from the trustee's decisions or actions while managing the trust. It serves to encourage trustees to act without fear of personal financial repercussions as they fulfill their duties.
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What does the Indemnity to Principals Clause mean?
Indemnity to Principals clause means that the cover is extended to the principal in the event that he/she is sued. This is common for most insurance covers.
How does a successor trustee distribute the trustors personal belongings?
A successor trustee will distribute the trustor's personal belongings as dictated by the will and testament. This means that the successor trustee is bound by the same legal obligations as the original trustee.
What does it mean when it says after the owners name on a deed trustee?
That means the grantee is a trustee who is holding title to the property for the benefit of the beneficiaries of a trust. They do not own the property as an individual.That means the grantee is a trustee who is holding title to the property for the benefit of the beneficiaries of a trust. They do not own the property as an individual.That means the grantee is a trustee who is holding title to the property for the benefit of the beneficiaries of a trust. They do not own the property as an individual.That means the grantee is a trustee who is holding title to the property for the benefit of the beneficiaries of a trust. They do not own the property as an individual.
What does Tr. mean at the end of a last name?
It generally means "Trustee".
What does indemnity mean in car insurance?
It means the purpose who was not at fault will be compensated for the damage the at-fault party caused.
What are the methods of providing indemnity?
Indemnity in insurance means the exact financial compensation. This can be provided by: 1. Cash payment 2. Repair 3. Replacement 4. Reinstatement For more information email to: KAEY.VEE@GMAIL.COM
What are the different methods of providing indemnity?
Indemnity in insurance means the exact financial compensation. This can be provided by: 1. Cash payment 2. Repair 3. Replacement 4. Reinstatement For more information email to: KAEY.VEE@GMAIL.COM
What does it mean when a trustee owns a house in Ga?
When a trustee owns a house in Georgia, it typically means that the trustee holds legal title to the property on behalf of a beneficiary or beneficiaries, following the terms outlined in a trust agreement. The trustee manages the property as specified in the trust document and is accountable for acting in the best interest of the beneficiaries.
What does closed without any indemnity mean?
It means you had an insurance claim of some sort for which the insurance company did not pay anything.
What are the costs on the indemnity basis?
Costs on the Indemnity basis means that when a party wishes to dispute an amount of costs, any doubt will be resolved in favour of the receiving party. The Indemnity basis is the opposite of the Standard basis, under which any doubt should be resolved in favour of the paying party. On either basis the court will only allow costs which have be reasonably incurred and are reasonable in amount. Indemnity costs are usually awarded against a party who has acted with poor conduct.
Can you collect unemployment benefits after retiring from the post office?
Retiring is not an acceptable reason to qualify for unemployment benefits, especially if your retirement means you are not going to be ready, willing and actively seeking employment - (criteria for eligibility).
what happens when a truste appose your bankruptcy?
If a trustee opposes your bankruptcy, it means that they do not believe you should be granted discharge of your debts and, as a result, you might not be able to go bankrupt, if the trustee's position prevails.
