Cestui, derived from the French word meaning “he who,” is used to refer to a beneficiary. It can also be spelled as cestuy. Essentially, it denotes an individual who receives something, such as a gift or inheritance.
Cestui, a French term meaning “he who,” refers to a beneficiary. For example, John is the cestui of his grandfather’s will, making him the beneficiary of his grandfather’s estate. This means that John is the person who will receive the benefits of the will. Similarly, the cestui que trust is the person who benefits from a trust, and the cestui que vie is the person who benefits from a life estate. In both cases, they are the beneficiaries of the trust or life estate.
A Cestui Que Vie Trust is a legal concept that refers to a trust created for the benefit of a person who is presumed to be alive but whose existence is uncertain or unknown.
A Cestui Que Vie Trust is typically established through a legal process, such as a court order or a declaration by a trustee, to hold assets on behalf of the presumed beneficiary.
The beneficiary of a Cestui Que Vie Trust can be any person whose existence is uncertain or unknown, such as a missing person or an unborn child.
If the presumed beneficiary of a Cestui Que Vie Trust is found to be alive, the trust may be terminated, and the assets held in the trust may be returned to the beneficiary.
Yes, a Cestui Que Vie Trust can be challenged in court if there are valid reasons to believe that the presumed beneficiary is actually deceased or if there are disputes regarding the administration of the trust.
The duties of a trustee in a Cestui Que Vie Trust include managing the trust assets, acting in the best interests of the presumed beneficiary, and ensuring compliance with applicable laws and regulations.
In some cases, a Cestui Que Vie Trust may be revoked or terminated if there are valid legal grounds for doing so, such as the discovery of new evidence regarding the presumed beneficiary’s existence.
The tax implications of a Cestui Que Vie Trust may vary depending on the jurisdiction and the specific circumstances. It is advisable to consult with a tax professional to understand the tax implications in your specific situation.
Yes, a Cestui Que Vie Trust can be used as part of an estate planning strategy, particularly in cases where the existence of potential beneficiaries is uncertain or unknown.
If the presumed beneficiary of a Cestui Que Vie Trust is never found, the assets held in the trust may be distributed according to the terms of the trust document or the applicable laws of intestacy, depending on the jurisdiction.
This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 16th April 2024.
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