This document is a 53-page Declaration of Trust. It includes definitions of all relevant terms, as well as the constitution, capital accounts, valuations and prices, issue of units, register of unitholders, transmission, redemption of units, and every other necessary clause that constitutes a valid Declaration of Trust.
The Missouri Declaration of Trust is a legally binding document that establishes a fiduciary relationship between the creator of the trust, known as the Settler or Granter, and the Trustee. This legal arrangement allows the Trustee to hold, manage, and distribute assets in accordance with the instructions specified in the document. One type of Missouri Declaration of Trust is the Revocable Living Trust. This trust is created during the lifetime of the Settler and can be modified or revoked at any time. It serves as a valuable tool for managing assets, avoiding probate, minimizing estate taxes, and providing for the efficient transfer of property to beneficiaries upon the Settler's death. Another type is the Irrevocable Trust, which, once established, cannot typically be changed or terminated without the consent of the beneficiaries. Irrevocable trusts are often utilized for estate planning purposes, wealth preservation, asset protection, and tax minimization. They offer advantages such as shielding assets from creditors, reducing estate taxes, and providing for charitable giving. The Missouri Declaration of Trust can also include a Special Needs Trust, sometimes referred to as a Supplemental Needs Trust. This type of trust is designed to provide for the long-term care and financial security of individuals with special needs, without disqualifying them from government assistance programs such as Medicaid or Supplemental Security Income (SSI). In addition to these types, other specialized trusts in Missouri may include Testamentary Trusts, which are established through a Last Will and Testament and only become effective upon the Settler's death, and Charitable Trusts, which are created to support charitable organizations or causes. Overall, the Missouri Declaration of Trust serves as a crucial legal framework for individuals and families seeking to protect and manage their assets, ensure the desired distribution of property, minimize taxes, and offer financial support for beneficiaries now and in the future.
