The North Carolina Trust Agreement between Nike Securities, L.P., The Chase Manhattan Bank, and First Trust Advisors, L.P. is a legally binding document that outlines the responsibilities and obligations of each party involved in the agreement. This agreement sets forth the guidelines for managing and administering trust assets in North Carolina. Nike Securities, L.P., The Chase Manhattan Bank, and First Trust Advisors, L.P. enter into this agreement as trustees, with the aim of maximizing the benefits and returns for the beneficiaries. The agreement ensures that all parties act in the best interest of the trust and in accordance with applicable laws and regulations. There are different types of North Carolina Trust Agreements that can be established between these entities, depending on the specific purpose and objectives of the trust. Some common types include: 1. Revocable Trust Agreement: This type of trust allows the granter (Nike Securities, L.P.) to retain control over the assets during their lifetime and have the freedom to modify or revoke the trust at any time. The Chase Manhattan Bank and First Trust Advisors, L.P. act as trustees and carry out the granter's instructions accordingly. 2. Irrevocable Trust Agreement: In this trust arrangement, the granter permanently transfers the assets to the trust, relinquishing any control over them. The trust becomes its own legal entity, with The Chase Manhattan Bank and First Trust Advisors, L.P. managing and distributing the assets according to the terms set forth in the agreement. This type of trust is often used for estate planning purposes, as it may offer tax benefits or provide asset protection. 3. Charitable Trust Agreement: This type of trust is established with the primary purpose of benefiting a charitable organization or cause. Nike Securities, L.P. may transfer assets to the trust, and The Chase Manhattan Bank and First Trust Advisors, L.P. oversee the management and disbursement of these assets to the designated charitable beneficiaries. 4. Special Needs Trust Agreement: This trust is designed to provide for the needs of an individual with special needs or disabilities. Nike Securities, L.P. may fund the trust, and The Chase Manhattan Bank and First Trust Advisors, L.P. act as trustees to ensure that the assets are used to enhance the quality of life and support the specific needs of the beneficiary. Overall, the North Carolina Trust Agreement between Nike Securities, L.P., The Chase Manhattan Bank, and First Trust Advisors, L.P. serves as a legally binding document that outlines the roles, responsibilities, and objectives of each party involved in the trust arrangement. The specific type of trust agreement used will depend on the purpose and goals of the trust as determined by the granter.
North Carolina Trust Agreement between Nike Securities, L.P., The Chase Manhattan Bank and First Trust Advisors, L.P.
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How to fill out Trust Agreement Between Nike Securities, L.P., The Chase Manhattan Bank And First Trust Advisors, L.P.?
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