Bronx New York Contrato de Fideicomiso Revocable con Fideicomisario Corporativo - Revocable Trust Agreement with Corporate Trustee

• Category: Fideicomisos - Convenios - Irrevocables
• State: Multi-State
• County: Bronx
• Control #: US-0377BG
• Format: Word

Description

A revocable trust is a trust that can be modified or revoked by the settler. In such trusts, the settler reserves the right to terminate the trust and recover the trust property and any undistributed income. Revocable trusts are considered grantor trusts and therefore the income is taxed to the settler and the assets in the trust at the time of settlers death are included in the settlers taxable estate. A revocable trust agreement is a legal document that allows individuals to transfer their assets into a trust during their lifetime, while still maintaining control over those assets. In the case of Bronx, New York, a revocable trust agreement with a corporate trustee appoints a corporate entity to act as the trustee, instead of an individual. This arrangement can offer certain advantages such as professional management and expertise in trust administration. The Bronx, New York revocable trust agreement with a corporate trustee ensures that the assets held within the trust are managed in accordance with the granter's wishes, as outlined in the trust agreement. The trustee becomes responsible for the administration, investment, and distribution of the assets, following the granter's instructions. One of the main benefits of utilizing a corporate trustee is their fiduciary duty, meaning they are legally bound to act in the best interests of the trust and its beneficiaries. Additionally, corporations have the expertise and resources needed to handle complex financial matters, ensuring efficient management of the trust. Some common types of Bronx, New York revocable trust agreements with corporate trustees include: 1. Revocable living trust with a corporate trustee: This type of trust agreement allows the granter to maintain control over the assets and make changes to the trust during their lifetime. By appointing a corporate trustee, the granter ensures that the assets will be professionally managed and distributed according to their wishes upon their death. 2. Revocable marital trust with a corporate trustee: This trust agreement is commonly used by married couples to provide for each other and ensure the seamless transfer of assets upon the death of one spouse. By designating a corporate trustee, the surviving spouse can be assured that their financial interests will be protected and managed appropriately. 3. Charitable revocable trust with a corporate trustee: This type of trust agreement is established for philanthropic purposes, allowing the granter to contribute assets to charitable organizations while maintaining control over the assets during their lifetime. A corporate trustee can ensure that the charitable objectives laid out in the trust agreement are fulfilled and that the assets are utilized for the intended charitable purposes. Overall, a Bronx, New York revocable trust agreement with a corporate trustee provides individuals with the peace of mind that their assets will be professionally managed and distributed according to their wishes. By utilizing the expertise of a corporate trustee, individuals can ensure the long-term preservation and proper administration of their wealth.

A revocable trust agreement is a legal document that allows individuals to transfer their assets into a trust during their lifetime, while still maintaining control over those assets. In the case of Bronx, New York, a revocable trust agreement with a corporate trustee appoints a corporate entity to act as the trustee, instead of an individual. This arrangement can offer certain advantages such as professional management and expertise in trust administration. The Bronx, New York revocable trust agreement with a corporate trustee ensures that the assets held within the trust are managed in accordance with the granter's wishes, as outlined in the trust agreement. The trustee becomes responsible for the administration, investment, and distribution of the assets, following the granter's instructions. One of the main benefits of utilizing a corporate trustee is their fiduciary duty, meaning they are legally bound to act in the best interests of the trust and its beneficiaries. Additionally, corporations have the expertise and resources needed to handle complex financial matters, ensuring efficient management of the trust. Some common types of Bronx, New York revocable trust agreements with corporate trustees include: 1. Revocable living trust with a corporate trustee: This type of trust agreement allows the granter to maintain control over the assets and make changes to the trust during their lifetime. By appointing a corporate trustee, the granter ensures that the assets will be professionally managed and distributed according to their wishes upon their death. 2. Revocable marital trust with a corporate trustee: This trust agreement is commonly used by married couples to provide for each other and ensure the seamless transfer of assets upon the death of one spouse. By designating a corporate trustee, the surviving spouse can be assured that their financial interests will be protected and managed appropriately. 3. Charitable revocable trust with a corporate trustee: This type of trust agreement is established for philanthropic purposes, allowing the granter to contribute assets to charitable organizations while maintaining control over the assets during their lifetime. A corporate trustee can ensure that the charitable objectives laid out in the trust agreement are fulfilled and that the assets are utilized for the intended charitable purposes. Overall, a Bronx, New York revocable trust agreement with a corporate trustee provides individuals with the peace of mind that their assets will be professionally managed and distributed according to their wishes. By utilizing the expertise of a corporate trustee, individuals can ensure the long-term preservation and proper administration of their wealth.

Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.