If a dispute arises, the agreement usually includes a way to resolve matters, which may involve mediation or going through legal channels if needed.
Beneficiaries typically receive reports regularly, keeping them in the loop about how the trust is doing and what’s in the pipeline.
A variety of assets can be held, including stocks, bonds, and other investments, essentially any assets that the trust aims to manage for beneficiaries.
Yes, the terms can be modified if both parties agree, but major changes usually need both sides to come to the table.
It lays out clear guidelines and responsibilities, ensuring that the beneficiaries' interests are protected and prioritized.
The agreement is between Prudential Securities Incorporated, which manages investments, and The Chase Manhattan Bank, which serves as the trustee.
The Trust Agreement sets the rules for how Prudential and Chase handle the assets for the benefit of the trust's beneficiaries, ensuring everything's above board and secure.