Blind Trust Example With 10
Description
How to fill out Blind Trust Agreement For Private Individual As Opposed To Government?
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FAQ
One disadvantage of blind trusts is that they can be challenging to set up. The grantor must have complete confidence in the trustee and be willing to give up control over the assets. Another disadvantage is that the grantor may not be able to change the terms of the trust once it has been established.
What Is a Blind Trust? A blind trust is a trust established by the owner (or trustor) giving another party (the trustee) full control of the trust. The trustee has full discretion over the assets and investments while being charged with managing the assets and any income generated in the trust.
How to Set Up a Blind Trust Gather the documentation for the assets that you want put into the blind trust. ... Appoint a trustee. ... Create the trust agreement. ... Sign the trust and have it notarized, taking care to follow any recording laws that your state has. Officially transfer the relevant assets into the trust.
In a blind trust, an individual places assets that could otherwise create conflicts of interest into an asset vehicle ("trust"). Control over the trust and its assets are given to an independent trustee, who may buy and sell assets without the knowledge or consent of the beneficiary ("blind").
A blind trust is most common with public officials whose decisions can directly affect the financial markets, but another example would be creating a blind trust to hide its monetary value from an individual whose behavior and actions would change if they were privy to it.