Trust All Name With Meaning
Description
How to fill out Inter Vivos QTIP Trust With Principal To Donor's Children On Spouse's Death?
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FAQ
A simple example would be the situation in which one member of a family advances money to another and asks the second member to hold the money or to invest it for him. A more complicated example of an implied trust would be the situation in which one party provides money to another for the purchase of property.
Most trusts are named after the Trust Creators and also include the date the trust was created. Examples are ?John and Jane Smith Revocable Trust dated 1/1/20?; or ?Smith Family Trust dated 1/1/20?; or ?John W. Smith and Jane A. Smith Revocable Family Trust dated 1/1/20?.
Usually you'll consider the grantor/trustor and/or the beneficiary(ies) when picking a name. This leads to the vast majority of trusts being named after the family - Thompson Family Trust for example. Add first names for some variety/specificity - Tye and Tina Thompson Family Trust for example.
A beneficiary of trust is the individual or group of individuals for whom a trust is created. The trust creator or grantor designates beneficiaries and a trustee, who has a fiduciary duty to manage trust assets in the best interests of beneficiaries as outlined in the trust agreement.
Name of Trust means and refers to the Trustees from time to time serving under the Trust's Agreement and Declaration of Trust as the same may subsequently thereto have been, or subsequently hereto be, amended.