Palm Beach Florida Acuerdo de fideicomiso irrevocable de marihuana - Irrevocable Pot Trust Agreement

• Category: Fideicomisos - Irrevocables - Disposiciones para gastos indebidos
• State: Multi-State
• County: Palm Beach
• Control #: US-13230BG
• Format: Word

Description

An irrevocable trust is a trust that cannot be modified or terminated without the permission of the beneficiary. In most states, a trust will be deemed irrevocable unless the Trustor specifies otherwise. Once the Trustor has transferred assets into the trust, s/he has no rights of ownership to the assets and the trust. Irrevocable trusts are preferred because it removes all incidents of ownership, thereby effectively removing the trust's assets from the grantor's taxable estate. The Trustor is also relieved of the tax liability on the income generated by the assets. This is the opposite of a "revocable trust", which allows the Trustor to modify the trust. A Pot Trust is a trust set up for more than one beneficiary, typically children. The purpose of a Pot Trust is to keep the funds in one pot until a later event. For example, at the death of the parents, the assets may be kept in one pot until all the children have graduated from college or reached age 21. 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.