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Buachaill
Buachaill, Barrister
Category: Law
Satisfied Customers: 10530
Experience:  Barrister 17 years experience
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I am the recipientof the income from my father's fixed

Customer Question

i am the recipientof the income from my father's fixed trust. upon my death my siblings will share the entire contents of the trust. there are two properties in the trust. am i currently the proprietor of these properties under trust law?
Submitted: 11 months ago.
Category: Law
Expert:  Buachaill replied 11 months ago.

1. Under trust law, the owner of the two properties are the trustees of the trust. As beneficiary of the trust, you never own any of the assets of the trust. Instead, the assets, including the two properties are owned and held by the trustees with you, as beneficiary, only ever receiving the income from the trust.

Expert:  Buachaill replied 11 months ago.

2. Upon your death, your siblings become entitled to the income from the assets of the trust. However, it depends on the terms of the trust, what becomes of the assets of the trust.

Expert:  Buachaill replied 11 months ago.

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