The Ohio Trust Agreement is a legal document that outlines the terms and conditions of a trust established between Van Kampen Foods, Inc., American Portfolio Evaluation Services, Van Kampen Investment Advisory Corp., and The Bank of New York. This agreement serves as a framework for the management and administration of assets held within the trust, outlining the rights and obligations of each party involved. One type of Ohio Trust Agreement between these entities is a Revocable Living Trust. This type of trust allows the granter, Van Kampen Foods, Inc., to retain control over the assets during their lifetime. It provides flexibility and allows for modifications or revocation of the trust if circumstances change. American Portfolio Evaluation Services and Van Kampen Investment Advisory Corp. may be designated as trustees responsible for managing and investing the assets, while The Bank of New York acts as the custodian, holding the assets on behalf of the trust. Another type of Ohio Trust Agreement is an Irrevocable Trust. This trust is created with the intention that it cannot be modified or revoked without the agreement of all parties involved. It may be established by Van Kampen Foods, Inc. to ensure the preservation and protection of certain assets. American Portfolio Evaluation Services and Van Kampen Investment Advisory Corp. may still serve as trustees, managing and overseeing the trust's assets, while The Bank of New York continues to act as the custodian. The Ohio Trust Agreement outlines the objectives of the trust, which may include preserving wealth, providing for financial security, or supporting charitable causes. It also specifies the distribution of income or principal, whether it be periodic distributions or a lump-sum payment. The agreement may include provisions for potential changes in circumstances, such as the appointment of successor trustees or beneficiaries. Additionally, the Ohio Trust Agreement includes details regarding the roles and responsibilities of each party involved. This may encompass reporting requirements, investment guidelines, and potential conflicts of interest. It also outlines how disputes or disagreements will be resolved and may contain provisions for the termination or modification of the trust under specific circumstances. In conclusion, the Ohio Trust Agreement between Van Kampen Foods, Inc., American Portfolio Evaluation Services, Van Kampen Investment Advisory Corp., and The Bank of New York is a comprehensive legal document that establishes the terms and conditions for the management and administration of assets held within the trust. It serves to protect the interests of the granter, beneficiaries, and trustees involved, while providing a framework for the proper stewardship of the trust's assets.
Ohio Trust Agreement between Van Kampen Foods, Inc., American Portfolio Evaluation Services, Van Kampen Investment Advisory Corp., and The Bank of New York
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