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Mesa
Grantor Trust Agreement between Cumberland Mountain Bancshares...

Mesa Arizona Grantor Trust Agreement between Cumberland Mountain Bancshares, James J. Shoffner, et al.

Category:

Corporations - Public - Agreements - Trusts

State:

Multi-State

City:

Mesa

Control #:

US-EG-9218

Format:

Word;

Rich Text

Instant download

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Description

Grantor Trust Agreement between Cumberland Mountain Bancshares, James J. Shoffner, Barry Litton, Robert R. Long, J.D. Howard and Raymond C. Walker regarding the establishment of Trust with the intention of the company to make contributions to the Trust

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Interesting Questions

Can the grantor make changes to the trust while they're alive?

Yes, as the name suggests, in a Grantor Trust, the grantor usually has the flexibility to change the terms of the trust while they are still alive.

What happens to the trust when the grantor passes away?

When the grantor passes away, the trust typically becomes irrevocable, and the assets are managed or distributed according to the terms laid out in the agreement.

How does a Grantor Trust affect taxes?

In a Grantor Trust, the grantor typically pays the taxes on the income generated by the trust, which can be beneficial in tax planning.

Why would someone want to set up a Grantor Trust?

Setting up a Grantor Trust can be a handy way to manage your assets, potentially provide tax benefits, and control how your assets are distributed after you’re gone.

Who are the main parties involved in this Grantor Trust Agreement?

The main parties involved are Cumberland Mountain Bancshares and James J. Shoffner, along with any other relevant folks mentioned in the agreement.

What is a Grantor Trust Agreement?

A Grantor Trust Agreement is a legal document that outlines how a trust is managed and specifies the rights and responsibilities of the grantor, or the person who creates the trust.