Each loan has to be signed over several times, first by the originator, then by typically at least two other parties, before it gets to the trust, "endorsed" the same way you might endorse a check to another party.
Don't endorse a check from your parents' insurance carrier, sign a deed to their house or retitle a retirement account, or you might not be able to disclaim, warns McManus.
Before you endorse a check from your parents' insurance carrier or sign a deed to their house, assess whether it makes sense to disclaim some or all of the assets so they can go directly to your children, skipping your generation.
It hardly seems fair, but when you endorse a check that has insufficient funds backing it, you're telling the bank you're responsible for that check.
Shusterman's crime was endorsing a $38,000 check signed by Harold Wapnick, a tax preparer with a widespread reputation for helping taxi drivers avoid taxes.
Coburn's unwillingness to endorse a background check compromise has frustrated Democrats, who spent weeks negotiating legislative language with him.
Few believe that the Germans, or their allies in fiscal rectitude in Austria, Finland, the Netherlands and elsewhere, would endorse a blank-check form of debt issuance for the Greeks.
Sign up now to get the best of VICE Canada delivered straight to your inbox.
"The law is clear that when an individual endorses a check subject to a condition, he accepts that condition," she wrote.
It ends later with his endorsing the check and letting a short-sighted restaurant keeper have it for $10.
