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The trustee is the legal owner of the property in trust, as fiduciary for the beneficiary or beneficiaries who are the equitable owners of the trust property.
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.
?Letters of Trusteeship? is a court document giving the nominated trustee of a trust created under a Last Will and Testament (?Will?) the power to act. Such a trust is called a testamentary trust because it is created in a Will.
Are you titling a vehicle into the name of a trust? Complete the following: ?Trustee Statement for Certificate of Title? (MV2790) The name of the trust on this form must be an exact match to the name on the Wisconsin Title and License Plate Application (MV1).
Here are some things to consider when drafting a letter to your executor or trustee. Your thoughts about wealth. ... Describe key players in the family. ... What matters to you? ... Give your trustee the power to make decisions, even when that means saying no.