Arizona Private Trust Company

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Description

The two major categories of trusts are private trusts and charitable trusts. There are no magic words that the Trustor has to use in order to establish a trust.
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FAQ

A trust is a legal entity that you create to become the legal owner of designated property. That property is managed by a trustee either yourself or an appointed person or institution during your lifetime.

For now, note that the top states for perpetual trusts are Alaska, Delaware, Nevada, and South Dakota. These states all allow perpetual trusts and don't assess state income taxes on these trusts....Which States Allow Perpetual Trusts?Alaska.Delaware.District of Columbia.Hawaii.Idaho.Illinois.Kentucky.Maine.More items...

States that recognize regulated private trust companies include:Alabama.Colorado.Delaware.Massachusetts.Nevada.New Hampshire.Pennsylvania.South Dakota.More items...

According to independent rankings, the top states with the best trust laws are South Dakota trust law and Nevada in the US.

Private Trust Definition: A Private Trust is a legal contract that holds and manages assets for relatives, family members and friends of the Grantor (the Trust creator and owner).

Since the trust is considered a separate legal entity, it will not be party to the lawsuit.

Although a trust is normally given a name and is often referred to as if it is a separate entity, like a company, it is not. A trust is a relationship between trustees and beneficiaries which imposes duties on the trustees to deal with the trust property in the interests of beneficiaries.

Private trust companies are designed to preserve ownership of family wealth, which may include business assets, real estate, alternative assets such as hedge funds or private equity. These assets are managed by the trustee in accordance with the wishes of the family.

What Is a Trust Company? A trust company is a legal entity that acts as a fiduciary, agent, or trustee on behalf of a person or business for the purpose of administration, management, and the eventual transfer of assets to a beneficial party.

A trust is a legal entity created to own, manage and eventually dispose of property.

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Arizona Private Trust Company