Title: Comprehensive Overview of the Wisconsin Trust Agreement between Nike Securities, L.P., The Chase Manhattan Bank, and First Trust Advisors, L.P. Keywords: Wisconsin Trust Agreement, Nike Securities, L.P., The Chase Manhattan Bank, First Trust Advisors, L.P., detailed description, types Introduction: The Wisconsin Trust Agreement between Nike Securities, L.P., The Chase Manhattan Bank, and First Trust Advisors, L.P. is a legal contract that establishes a fiduciary relationship between these entities. This article aims to provide a comprehensive understanding of this agreement, outlining its purpose, key stakeholders, and potential variations. 1. Purpose of the Wisconsin Trust Agreement: The core objective of the Wisconsin Trust Agreement is to define the conditions and terms under which a trust is created, managed, and ultimately distributed for the benefit of designated beneficiaries. 2. Key Stakeholders: a) Nike Securities, L.P.: As one of the parties to the agreement, Nike Securities, L.P., acts as the granter or settler, contributing assets into the trust. They may also appoint a trustee to administer the trust and ensure its compliance with the terms agreed upon. b) The Chase Manhattan Bank: This party, as the trustee, assumes the responsibility of safeguarding the trust's assets, making informed investment decisions, and adhering to applicable laws and regulations to benefit the trust beneficiaries. c) First Trust Advisors, L.P.: While variations of the Wisconsin Trust Agreement may exclude this entity, when involved, First Trust Advisors, L.P.'s expertise in financial planning and investment management may be utilized to assist the trustee with investment decisions and fiduciary duties. 3. Types of Wisconsin Trust Agreement: a) Revocable Trust: This type grants the granter the authority to amend, modify, or revoke the trust arrangement during their lifetime. The assets held in the trust remain within the granter's taxable estate until their passing, providing flexibility for changes in beneficiaries or asset allocation. b) Irrevocable Trust: An irrevocable trust, as the name suggests, cannot be altered or revoked by the granter once established, except under specific circumstances specified within the agreement. It offers potential estate tax benefits, creditor protection, and allows for the removal of assets from the granter's taxable estate. c) Testamentary Trust: Created in a will, a testamentary trust takes effect upon the granter's death. It enables the granter to determine how their assets will be distributed and managed for the designated beneficiaries while allowing for potential tax benefits and controls from beyond the grave. Conclusion: The Wisconsin Trust Agreement between Nike Securities, L.P., The Chase Manhattan Bank, and First Trust Advisors, L.P. serves as a critical legal framework for the creation, management, and distribution of trusts. Understanding the purpose, key stakeholders, and various types of this agreement is essential for ensuring effective wealth management, asset protection, and meeting the beneficiaries' objectives.
Wisconsin 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 Wisconsin Trust Agreement Between Nike Securities, L.P., The Chase Manhattan Bank And First Trust Advisors, L.P.?
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