Registration of Trust Definitions, is an official form from the Alaska Court System, which complies with all applicable laws and statutes. USLF amends and updates the forms as is required by Alaska statutes and law.
Alaska Registration of Trust Definitions
State:
Alaska
Control #:
AK-P-201
Format:
PDF
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Description
How to fill out Alaska Registration Of Trust Definitions?
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FAQ
A trust is a fiduciary relationship in which one party, known as a trustor, gives another party, the trustee, the right to hold title to property or assets for the benefit of a third party, the beneficiary.
Express, implied/resulting and constructive trust. Private and public trust: the former is for the benefit of an individual or class of beneficiaries while the latter is for the benefit of the public as a whole.
The trustee is the legal owner of the property in trust, as fiduciary for the beneficiary or beneficiaries who is/are the equitable owner(s) of the trust property. Trustees thus have a fiduciary duty to manage the trust to the benefit of the equitable owners.
Revocable Trusts. Irrevocable Trust. Asset Protection Trust. Charitable Trust. Constructive Trust. Special Needs Trust. Spendthrift Trust. Tax By-Pass Trust.
In this article, the author discusses the four elements of trust: (1) consistency; (2) compassion; (3) communication; and (4) competency. Each of these four factors is necessary in a trusting relationship but insufficient in isolation. The four factors together develop trust.
Common Types of Trusts. While the basic structure of a trust remains pretty much the same, there are several different types of trusts with different purposes and specifics. The five main types of trusts are living, testamentary, revocable, irrevocable, and funded or unfunded.
Revocable Trusts. Irrevocable Trusts. Testamentary Trusts.
Living Trust. Testamentary Trust. Revocable Trust. Irrevocable Trust. Funded or Unfunded Trust. Credit Shelter Trust. Insurance Trust. Qualified Terminable Interest Property Trust.