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What is nonprofit organization?
schools,churches,hospitals
Can the president of a nonprofit be president of a profit organization?
no he cant,,he can only be appoint as a trustee of a orgnisation
Where can i go do my volunteer service for high school?
Hospitals, nonprofit groups
What are the responsibilities of an executor of a living trust?
A trust doesn't have an executor. It has a trustee. The trustee manages the trust according to the terms of the trust.
What are the death rates at the different types of hospitals in the United States?
Previous research has shown that death rates are 25% higher in proprietary hospitals than in teaching hospitals, and 6-7% higher in proprietary hospitals than in nonprofit institutions.
Is a settlor also a trustee?
A settlor is not the same as a trustee. The settlor creates the trust by transferring assets into it, while the trustee manages and administers the trust for the benefit of the beneficiaries. In some cases, the settlor can also be a trustee, but they are distinct roles with different responsibilities.
What is the responsibility of a trustee in a living trust?
The responsibilities of any trustee are set forth in the trust instrument. A trust should always be drafted by an attorney who specializes in trust law and tax law and who will set the provisions of the trust to meet the needs of the trustor. The powers and responsibilities of the trustee(s) are set forth in the trust instrument and they have no other powers.
Does a trustee get all the money in a trust?
No. The trustee has the power and authority to handle the money in the trust according to the terms set forth in the trust. The trustee must distribute the profits as provided in the trust and must distribute the remaining trust property when the trust terminates according to the provisions in the trust. The trust may also provide compensation for the trustee.
How do nonprofit agencies receive their funding?
Nonprofit organizations may receive funding from sponsorship, donations, or reimbursement for services. The designation "nonprofit" doesn't mean that the organization doesn't charge for services, but only that any resulting profit (the difference between income and expenses) is used within the agency to further its mission. For instance, both for-profit and non-profit hospitals charge for services, but non-profit hospitals don't distribute profits to owners or shareholders.
What is substitution of trustee?
Substitution of trustee is a legal process where the current trustee of a trust is replaced with a new trustee. This can be done for various reasons, such as the original trustee resigning, becoming incapacitated, or being removed due to misconduct. The new trustee assumes all the duties and responsibilities of the former trustee.
What powers does a trustee have over a non-trustee of a irrevocable trust?
The trustee of the trust has all the power and authority to act for the trust. Their duties and powers are set forth in the instrument that created the trust. Their only power over the beneficiaries are those set forth in the trust.A non-trustee (beneficiary) has no power regarding the operation of the trust unless they were given specific powers in the trust instrument such as the power to appoint a new trustee. The beneficiaries also have the power to file a complaint in court if the trustee fails to perform their responsibilities appropriately.The trustee of the trust has all the power and authority to act for the trust. Their duties and powers are set forth in the instrument that created the trust. Their only power over the beneficiaries are those set forth in the trust.A non-trustee (beneficiary) has no power regarding the operation of the trust unless they were given specific powers in the trust instrument such as the power to appoint a new trustee. The beneficiaries also have the power to file a complaint in court if the trustee fails to perform their responsibilities appropriately.The trustee of the trust has all the power and authority to act for the trust. Their duties and powers are set forth in the instrument that created the trust. Their only power over the beneficiaries are those set forth in the trust.A non-trustee (beneficiary) has no power regarding the operation of the trust unless they were given specific powers in the trust instrument such as the power to appoint a new trustee. The beneficiaries also have the power to file a complaint in court if the trustee fails to perform their responsibilities appropriately.The trustee of the trust has all the power and authority to act for the trust. Their duties and powers are set forth in the instrument that created the trust. Their only power over the beneficiaries are those set forth in the trust.A non-trustee (beneficiary) has no power regarding the operation of the trust unless they were given specific powers in the trust instrument such as the power to appoint a new trustee. The beneficiaries also have the power to file a complaint in court if the trustee fails to perform their responsibilities appropriately.
Can original trustee take back duties after turning over to successor trustee?
In general, once a trustee transfers their duties to a successor trustee, they no longer have the authority to take back those duties without the approval of the beneficiaries or a court order. It is important to follow the terms outlined in the trust document and seek legal advice if there is a dispute or question about trustee responsibilities.
