Is a blind trust legal?

Is the Legal Services Trust a blind trust? Dr Glister says the answer is yes, but it's a very unusual one. "Normally with a blind trust we know exactly who created it and we know exactly who the ultimate beneficiaries are," he said.

US Legal Forms
Localized Forms
California
Riverside
Blind Trust Agreement for Private Individual as Opposed to Government

Riverside California Blind Trust Agreement for Private Individual as Opposed to Government

Name: Riverside California Blind Trust Agreement for Private Individual as Opposed to Government
Brand: US Legal Forms
Rating: 4.74 (414 reviews)

Category:

Trusts - Blind

State:

Multi-State

County:

Riverside

Control #:

US-02480BG

Format:

Instant download

Description

A blind trust is a trust in which the beneficiaries are unaware of the trust's specific assets, and in which a fiduciary third party has discretion over all management of the trust assets. For example, politicians may use a blind trust to hold their assets while they're in office to avoid conflict of interest accusations. Blind trusts are set up with grantor and beneficiary being the same, and a trust company as trustee. The trust company holds stocks, bonds, real estate, and other income-generating property in trust for the beneficiary, but the beneficiary lacks knowledge of what stocks or bonds or real estate or other investments are in the trust.

This trust is not meant for a politician but for a person in private life who desires a blind trust. This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.

View Vacaville Assignment of Deed of Trust by Corporate Mortgage Holder

View this form

View Vacaville Income Information - Family Law

View this form

View Vacaville Expense Information - Family Law

View this form

View Vacaville Summary Dissolution Information Insert

View this form

Software and Hardware Maintenance and Tech...

View this form

Landlord's Waiver of Right to Retain Equip...

View this form

How to fill out Riverside California Blind Trust Agreement For Private Individual As Opposed To Government?

Preparing documents for the business or personal needs is always a big responsibility. When creating an agreement, a public service request, or a power of attorney, it's crucial to consider all federal and state regulations of the particular area. Nevertheless, small counties and even cities also have legislative provisions that you need to consider. All these details make it burdensome and time-consuming to create Riverside Blind Trust Agreement for Private Individual as Opposed to Government without expert assistance.

It's easy to avoid spending money on lawyers drafting your paperwork and create a legally valid Riverside Blind Trust Agreement for Private Individual as Opposed to Government by yourself, using the US Legal Forms web library. It is the greatest online catalog of state-specific legal documents that are professionally cheched, so you can be certain of their validity when choosing a sample for your county. Previously subscribed users only need to log in to their accounts to download the required document.

If you still don't have a subscription, follow the step-by-step guideline below to get the Riverside Blind Trust Agreement for Private Individual as Opposed to Government:

Examine the page you've opened and check if it has the document you require.
To accomplish this, use the form description and preview if these options are presented.
To locate the one that suits your needs, utilize the search tab in the page header.
Double-check that the sample complies with juridical criteria and click Buy Now.
Choose the subscription plan, then log in or register for an account with the US Legal Forms.
Utilize your credit card or PayPal account to pay for your subscription.
Download the chosen file in the preferred format, print it, or complete it electronically.

The exceptional thing about the US Legal Forms library is that all the paperwork you've ever obtained never gets lost - you can get it in your profile within the My Forms tab at any moment. Join the platform and quickly get verified legal templates for any scenario with just a few clicks!

Form Rating

4.74

Satisfied(414)

Form popularity

FAQ

The key difference between a blind trust and other types of living trusts is that neither the trustor nor his or her beneficiaries have the authority to manage any aspect of the trust or the assets held in it after the blind trust has been finalized.

A blind trust is a trust established by the owner (or trustor) giving another party (the trustee) full control of the trust. The trustee has control over the assets and investments while managing the assets and any income generated in the trust.

Blind trusts create a layer of separation between the grantor's assets and professional or political activities that helps to eliminate real or perceived conflicts of interest and accusations of wrongdoing. Individuals who receive a windfall can also use them to maintain financial privacy.

Is the Legal Services Trust a blind trust? Dr Glister says the answer is yes, but it's a very unusual one. "Normally with a blind trust we know exactly who created it and we know exactly who the ultimate beneficiaries are," he said.

Taxation of Blind Trusts They can either be set up as pass-through entities or they can be taxed at the trust level, with the money to pay the taxes coming out of the trust. Either way, the owner/beneficiary ultimately foots the tax bill for the investment income generated by the trust assets.

The purpose of such a trust is to allow a politician not to declare an interest in certain assets because they do not know at any time what assets are owned by the trust. The settlor may retain an interest or the trust may even be a bare trust in which the settlor remains absolutely entitled to the assets.

Blind trust - a trust that enables a person to avoid possible conflict of interest by transferring assets to a fiduciary; the person establishing the trust gives up the right to information about the assets.

Interesting Questions

More info

A complete list is available in the table of contents at the beginning of this document. 1. 4 City of Riverside Physical Setting.This information is for guidance only and does not state the complete law. Beyond filling out an annual disclosure form. Use only blue or black ink when completing your application. • Fill in the applicable ovals completely like this: . Return of Private Foundation. Form 990-PF or Section 4947(a)(1) Trust Treated as Private Foundation. Additional policies and funding details will be included in the upcoming Governor's. 10b. There would be no change in the tax base since FWP would pay property taxes in an amount equal to that of a private individual.

Riverside California Blind Trust Agreement for Private Individual as Opposed to Government

Description

Related forms

Viewed forms

How to fill out Riverside California Blind Trust Agreement For Private Individual As Opposed To Government?

Show more info

Form Rating

Form popularity

FAQ

What is the difference between a trust and a blind trust?

Who owns a blind trust?

What are the benefits of a blind trust?

Is a blind trust legal?

How is a blind trust taxed?

Whats the difference between trust and blind trust?

What is the difference between trust and blind trust?

Why use a blind trust?

What is a blind trust UK?

What does it mean to have blind trust in someone?

Interesting Questions

What is a blind trust agreement?

Why would a private individual need a blind trust agreement?

How does a blind trust agreement work?

What are the advantages of a blind trust agreement for a private individual?

Can a private individual revoke or terminate a blind trust agreement?

How does a blind trust agreement differ for a private individual as opposed to the government?

More info

Trusted and secure by over 3 million people of the world’s leading companies