Any Trustee Name For Company
Description
How to fill out Articles Of Association Of Unincorporated Charitable Association?
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FAQ
If the trustee does not sign as ?trustee? and the contract does not specifically exclude liability, then a trustee may be personally liable on contracts entered into in the trustee's fiduciary capacity. Takeaway: Whenever you sign any document on behalf of the trust, always sign as ?Your Name, Trustee.?
Successor trustees can be your adult children, other relatives, a trusted friend, or a corporate trustee (bank trust department or trust company). If you choose an individual, you should name more than one in case your first choice is unable to act.
A trustee takes legal ownership of the assets held by a trust and assumes fiduciary responsibility for managing those assets and carrying out the purposes of the trust.
For example, if someone named John H. Smith transferred his bank account into his trust named ?The John H. and Mildred R. Smith Living Trust? and was the trustee, the owner of the account would be ?John Smith, Trustee of the John H.
A Trustee is a person who acts as a custodian for the assets held within a Trust. He or she is responsible for managing and administering the finances of a Trust per the instructions given. Often, the person who creates the Trust is the Trustee until they can no longer fill the role due to incapacitation or death.