Blind Trust Example With Someone
Description
How to fill out Blind Trust Agreement For Private Individual As Opposed To Government?
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FAQ
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").
Defining Blind Trust It is like walking into a bridge without knowing whether it is strong enough to hold us. In personal relationships, blind trust could mean believing a person's words or intentions without hesitation. Even if there is a chance that someone could be not truthful we chose to ignore it.
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.
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.