Anc liquidating trust florida
When the maker of a revocable trust, also known as the grantor or settlor, dies, the assets become property of the trust.
If the grantor acted as trustee while he was alive, the named co-trustee or successor trustee will take over upon the grantor’s death.
Management seeks to earn high risk adjusted returns by targeting for acquisition assets which we believe are undervalued and/or exhibit the potential for superior growth.
You will need the date-of-death value for each bank account and insurance policy.
Contact the grantor’s broker and request a printout of the securities the grantor placed into the trust along their date of death values.
Go online and obtain a tax identification number from the Internal Revenue Service for the trust. Close out any bank accounts the grantor established for the trust and put the proceeds into the new trust bank account.
Cash in any life insurance policies that name the trust as beneficiary and put the proceeds into the trust bank account.
Norton Liquidating trusts are organized for the primary purpose of liquidating assets transferred to them for distribution to trust beneficiaries. The US Bankruptcy Code seeks to promote the effective administration and settlement of a debtor’s assets and liabilities within a limited frame of time.