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Did Dick Cheney put his assets in a blind trust when vice president?
Wiki User
∙ 11y ago
no
Wiki User
∙ 11y ago
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When is a blind trust fund payable?
A "blind trust" is payable whenever the terms of the trust say it is payable. A "blind trust" has no features that are different than any other trust except for the fact that the beneficiaries are not allowed to see where the trust assets are invested or influence how they should be invested.
What is a blind trust fund and how long do you have to keep it in order to get out of it?
A trust in which the executors have full discretion over the assets, and the trust beneficiaries have no knowledge of the holdings of the trust.
Can the same person be both the beneficiary and the trustee of a blind trust?
No. The trustee has full control over the assets in the trust. In a 'blind trust' the trustee must be completely independent. If the beneficiary is the trustee then the trustee is not completely independent.
What does it mean that you cannot get the assets back in a revocable trust?
You CAN get the assets back in a revocable trust. You CANNOT get the assets back in an irrevocable trust. An irrevocable trust cannot be terminated by the settler once it has been created. The settler transfers their assets into the trust and no longer has any rights of ownership in that property or the trust. The main reasons for setting up an irrevocable trust are estate planning and tax purposes. Generally, assets in an irrevocable trust are shielded from creditors.
Does a trust protect personal assets?
Yes. However, the assets must be transferred to the trust and will no longer be "personal" assets. They will be under the control of the trustee of the trust. You should discuss your situation with an attorney who specializes in trust law in your state.
Can same assets be left in a will and a trust?
If the deceased's will leaves assets to a person but places them into a "trust" for that person, yes, they can.
How do you say 'blind trust' in French?
Blind trust is translated 'confiance aveugle' in French.
Can you use a living trust as an asset?
Does the trust have assets in it?
Can the grantor sell assets listed in irrevocable living trust?
The grantor has no control over the assets in an irrevocable trust. Those assets are under the control of the trustee.
What are some of the better known nondeposit trust facilities in the U.S.?
Amalga Trust Company Inc., which had 1997 assets of $6.1 billion; First of America Trust Co., with 1998 assets of $14.4 billion; Imperial Trust Co., with 1997 assets of $9.3 billion; and Mercantile Trust Company N.A., with 1997 assets of $28.7 billion
What does the president have to do with his money?
The president is forced to place investments in a blind trust so that they do not have conflicts of interest while in office. They must declare their income as taxable income to the state.
How are assets distributed when there is a trust?
You must read the provisions of that particular trust to determine how it directs that assets be distributed. A trust is managed according to the provisions set forth in the document that created the trust.
