The Virginia Trust Agreement between Nike Securities, L.P., The Chase Manhattan Bank, and First Trust Advisors, L.P., is a legally binding contract that outlines the terms and conditions of a trust relationship between these parties. This agreement serves to protect the interests of all involved and ensure the proper administration of assets and investments. The Virginia Trust Agreement is a document that establishes the roles, responsibilities, and rights of each party involved. Nike Securities, L.P., is the granter or settler, -- the entity that creates the trust and contributes the assets. The Chase Manhattan Bank acts as the trustee, responsible for managing and safeguarding the assets of the trust. First Trust Advisors, L.P., may serve as the investment advisor, providing guidance on the allocation and management of the trust's assets. Within the Virginia Trust Agreement, several types of trusts may be established, each catering to different purposes and needs. Some notable types of trusts include: 1. Revocable Living Trust: This allows the granter to retain control over the trust assets during their lifetime and modify or revoke the trust terms if desired. The trust becomes irrevocable upon the granter's death, at which point the trustee assumes control. 2. Irrevocable Trust: Unlike a revocable trust, an irrevocable trust cannot be modified or revoked without the consent of all involved parties. This type of trust might be used for estate planning purposes or to protect assets from creditors. 3. Charitable Trust: This trust is established to benefit charitable organizations or causes, allowing individuals or entities to make philanthropic contributions while gaining favorable tax benefits. 4. Special Needs Trust: A trust designed to provide for the financial needs of a disabled or incapacitated individual without affecting their eligibility for government benefits. It ensures that the individual receives adequate support while preserving their eligibility for essential assistance programs. These are just a few examples of the Virginia Trust Agreements that can be established between Nike Securities, L.P., The Chase Manhattan Bank, and First Trust Advisors, L.P. Each type of trust serves a unique purpose and is tailored to meet the specific goals and requirements of the granter and beneficiaries involved.
Virginia Trust Agreement between Nike Securities, L.P., The Chase Manhattan Bank and First Trust Advisors, L.P.
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How to fill out Virginia Trust Agreement Between Nike Securities, L.P., The Chase Manhattan Bank And First Trust Advisors, L.P.?
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