Washington Approval of transfer of outstanding stock with copy of Liquidating Trust Agreement
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How to fill out Approval Of Transfer Of Outstanding Stock With Copy Of Liquidating Trust Agreement?
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FAQ
The trustee must register the trust by filing with the clerk of the court in any county where venue lies for the trust under RCW 11.96A.
Liquidating trusts are funded with assets held for the benefit of creditors who may have a claim against the debtor. These trusts can exist from several months to several years, depending on how long it takes to liquidate the assets and work through various claims and settlements.
Certain elements are necessary to create a legal trust. The basic elements include a trustor, a trustee, one or more beneficiaries, trust property, and generally a written trust agreement. The person who creates a trust is called a trustor. This person may also be referred to as the ?grantor? or ?settlor?.
The transferee must have been a beneficiary of the trust when the property was acquired and became an asset of the trust (i.e. the relevant time). There must be no consideration for the transfer and the transfer of property from trustee to beneficiary must not be part of a sale or other arrangement.
To create a living trust in Washington, prepare a written trust document and sign it before a notary public. To finalize the trust and make it effective, you must transfer ownership of your assets into it.