Illinois Trust Agreement Nike Securities, L.P., The Chase Manhattan Bank, BISYS Fund Services Ohio, Inc. and First Trust Advisors, L.P.

• Category: Corporations - Public - Agreements - Trusts
• State: Multi-State
• Control #: US-EG-9036
• Format: Word; Rich Text

Description

Trust Agreement btwn Nike Securities, L.P., The Chase Manhattan Bank, BISYS Fund Services Ohio, Inc. and First Trust Advisors, L.P. dated Dec. 30, 1999. 29 pages The Illinois Trust Agreement is a legal document that outlines the terms and conditions under which Nike Securities, L.P., The Chase Manhattan Bank, BASIS Fund Services Ohio, Inc., and First Trust Advisors, L.P. operate as trustees in the state of Illinois. As trustees, Nike Securities, L.P., The Chase Manhattan Bank, BASIS Fund Services Ohio, Inc., and First Trust Advisors, L.P. are responsible for managing and administering various types of trusts, ensuring that the assets held within these trusts are properly distributed and protected. The Illinois Trust Agreement encompasses a range of trust types, serving different purposes and meeting various client needs. Some different types of trusts include: 1. Revocable Living Trusts: These trusts allow individuals to transfer their assets into a trust during their lifetime, providing flexibility and control over their assets while avoiding probate. 2. Irrevocable Trusts: In contrast to revocable trusts, irrevocable trusts cannot be altered or revoked after they are created. These trusts are often used for long-term estate planning purposes, asset protection, and tax planning. 3. Charitable Trusts: Charitable trusts are established to benefit a specific charitable cause or organization. They can provide various tax benefits while allowing individuals to make a lasting impact through their philanthropic efforts. 4. Special Needs Trusts: These trusts are designed to provide financial support and assistance to individuals with special needs while preserving their eligibility for government benefits. 5. Testamentary Trusts: Created through a person's last will and testament, testamentary trusts become effective after the individual's death. They allow for the distribution of assets according to the person's specified wishes. The Illinois Trust Agreement ensures that the trustees, Nike Securities, L.P., The Chase Manhattan Bank, BASIS Fund Services Ohio, Inc., and First Trust Advisors, L.P., adhere to the guidelines and regulations set forth by the state of Illinois in managing these trusts. It also defines the duties and responsibilities of each trustee and safeguards the interests of trust beneficiaries.

The Illinois Trust Agreement is a legal document that outlines the terms and conditions under which Nike Securities, L.P., The Chase Manhattan Bank, BASIS Fund Services Ohio, Inc., and First Trust Advisors, L.P. operate as trustees in the state of Illinois. As trustees, Nike Securities, L.P., The Chase Manhattan Bank, BASIS Fund Services Ohio, Inc., and First Trust Advisors, L.P. are responsible for managing and administering various types of trusts, ensuring that the assets held within these trusts are properly distributed and protected. The Illinois Trust Agreement encompasses a range of trust types, serving different purposes and meeting various client needs. Some different types of trusts include: 1. Revocable Living Trusts: These trusts allow individuals to transfer their assets into a trust during their lifetime, providing flexibility and control over their assets while avoiding probate. 2. Irrevocable Trusts: In contrast to revocable trusts, irrevocable trusts cannot be altered or revoked after they are created. These trusts are often used for long-term estate planning purposes, asset protection, and tax planning. 3. Charitable Trusts: Charitable trusts are established to benefit a specific charitable cause or organization. They can provide various tax benefits while allowing individuals to make a lasting impact through their philanthropic efforts. 4. Special Needs Trusts: These trusts are designed to provide financial support and assistance to individuals with special needs while preserving their eligibility for government benefits. 5. Testamentary Trusts: Created through a person's last will and testament, testamentary trusts become effective after the individual's death. They allow for the distribution of assets according to the person's specified wishes. The Illinois Trust Agreement ensures that the trustees, Nike Securities, L.P., The Chase Manhattan Bank, BASIS Fund Services Ohio, Inc., and First Trust Advisors, L.P., adhere to the guidelines and regulations set forth by the state of Illinois in managing these trusts. It also defines the duties and responsibilities of each trustee and safeguards the interests of trust beneficiaries.