Or, a Trust is established to benefit the individual who creates the Trust (the Trustor), generally for purposes of avoiding the probate process upon death. The person who benefits from the Trust is called the beneficiary. When a beneficiary passes away, the Trust document will set forth what happens next.
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Monticello /ËmÉntÉªËsÉloÊ/ is a village located in Thompson in Sullivan County, New York, United States. The population was 6,726 at the 2010 census. It is the seat for the Town of Thompson and the county seat of Sullivan County. The village was named after the residence of Thomas Jefferson. The Village of Monticello is in the central part of Thompson, adjacent to New York Route 17. Monticello is one of the largest villages in the county.