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The purpose for creating this trust is to promote ________________________________
I, ___________, trustor, create a trust fund of the property listed in Schedule A attached and incorporated by this reference, which I have delivered today to ____________.
I hereby give, transfer, and deliver the property described in Schedule A to the trustees in trust for the purposes stated.
The name of this trust shall be the _____________.
Trustor and Trustee, hereby agree as follows:
TRANSFER OF CORPUS
Trustor hereby gives and transfers to trustees the property described in the attached schedule together with its income and profits and any other sums that may be transferred to trustees or their successors pursuant to the terms of this agreement, to hold in trust for the uses and purposes set forth in this agreement.
INVESTMENT AND APPLICATION OF TRUST FUND AND INCOME
The trustees shall hold the trust fund and, in their discretion, invest it or parts of it in securities in which trustees are permitted to invest under applicable laws. The trustees from time to time in their own discretion may invest the income to the charitable uses and purposes described above solely by means of contributions to any charitable corporation, trust, community chest, fund, or foundation which at the time of the contribution by the trustees is one of those organizations described in the IRS Code of the United States, contributions to which are deductible for income tax purposes.
Trustees shall make distributions at such times and in a manner as not to subject the trust to tax and shall not act in any self-dealing as described in Section 4941 of the Internal Revenue Code. Trustees shall not retain any excess business holdings as defined in Section 4943 of the Internal Revenue Code and shall not make any investments as defined in Section 4944 of the Internal Revenue Code nor make any taxable expenditure, which would subject the trust or corporate trustee to tax under Section 4945 of the Internal Revenue Code.
RESTRICTIONS ON USE OF TRUST FUND
The trust fund and the income of the trust fund shall be used only for the purposes described above and shall not be used to benefit or inure any private person or corporation, except for the corporate trustee. No part of this trust shall be used for political purposes.
ADDITIONAL GIFTS TO FUND
Anyone from time to time may contribute to the trust corpus money or property to the trust, subject to the approval of the trustees.
TRUSTEES ACTIONS
The trustees shall not be responsible for any error or decision which is absent of bad faith.
TRUSTEES COMPENSATION
The corporate trustee shall be reimbursed from time to time as decided by the trustor and be paid by the trust. All expenses incurred through the administration of the trust fund shall be paid by the Trustor. The individual trustees shall serve without compensation.
DECISIONS OF THE TRUST
Any action by the trustees must be in writing and signed by a majority of the trustees and shall be filed with the corporate trustee.
CONTROL OF FUNDS
The corporate trustee shall have exclusive custody of the securities, cash, and other property of the trust fund.
SUCESSION OF TRUSTEES
In the case of a death or resignation of one of the trustees, the successor shall be appointed by the remaining trustees. The remaining trustees shall have full power to act under this agreement until a new trustee is appointed.
GIFTS IRREVOCABLE
Gifts made into the trust under this agreement shall be irrevocable. If it is determined that this trust is not tax exempt after making contributions or gifts in the manner and to the extent provided by the Internal Revenue Code, then such gifts as remain in the fund shall be given to a qualified tax exempt charitable organization selected by trustees to best carry out the purpose of this trust. This trust shall thereupon terminate.
_____________________________
TRUSTOR
_____________________________
TRUSTEE
Charitable TrustReview List
This review list is provided to inform you about this document in question and assist you in its preparation. This is a standard charitable trust. Feel free to add or modify it as appropriate.
1. Make multiple copies. Give one to each signatory. Keep one in your home safe. Put one in your home safe.
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LHA Charitable Trust's population is 9.
What is the population of LHA Charitable Trust?
LHA Charitable Trust's population is 5.
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Joseph Rowntree Charitable Trust was created in 1904.
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Vikash educational charitable trust was created in 1993.
How can a person create a charitable trust?
To form a charitable trust a person needs to do the following step by step; choosing the trustees carefully, defining the goal or objective of the trust, and registering as a trust board under the Charitable Trust Act.
Can a trustee dissolve the charitable trust and keep the profits?
Can a trustee disolvevthe charitable trust and keep any profits
What is a charitable trust?
A charitable trust is a trust set up to benefit a charity. The donor can receive income from the trust until their death and remaining funds go to the charity
What is a sentence with the word charitable?
this is not a Charitable organization. People trust charitable organizations.
A charitable trust is usually governed by?
The attorney general of many states have the power to monitor anyone holding funds intended for "charitable purposes." This is the charitable trust, and may be administered by rules of the AG's office and by various state laws. A charitable remainder trust would be a different animal.
What does charitable lead trust do?
A charitable lead trust is a form of organisation that has special rights and laws governing its formation and structure. This is for taxation reasons.
Does irrevocable trust prohibit customary charitable giving?
You need to review the terms of the particular trust. If charitable donations can be made by the trustee that power will be (must be) set forth in the trust instrument.
Where is the Muriel L. Macgregor Charitable Trust in Estes Park Colorado located?
The address of the Muriel L. Macgregor Charitable Trust is: , Estes Park, CO 80517
