Utah Reorganization of corporation as a Massachusetts business trust with plan of reorganization
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How to fill out Reorganization Of Corporation As A Massachusetts Business Trust With Plan Of Reorganization?
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FAQ
Hear this out loud PauseIn a business trust, a trustee manages a business and conducts transactions for the benefit of its beneficiaries. The trustee, which can be a company or an individual (including the business's owner), can be authorized to distribute business income and transfer property to beneficiaries.
Hear this out loud PauseThere's going to be additional administration costs it's going to have separate paperwork it needs to file. Another complication you may run into is there are different legal regulations from the IRS regarding how the business has to be treated when it's owned by a trust.
Hear this out loud PauseWhile you are alive, the assets are owned in the name of the trust, but you have total control over them. You live in your house and use your assets as you normally would without restriction. After your death, all the assets are already in the trust and the successor trustee steps in and continues managing them.
A Business Trust is an entity engaged in a trade or business that is created by a declaration of trust that transfers property to trustees, to be held and managed by them for the benefit of persons holding certificates representing beneficial interest in the trust estate and assets.