Fairfax Virginia Trust Agreement is a legal document that outlines the terms and conditions of an agreement entered into between Nike Securities, L.P., The Chase Manhattan Bank, and First Trust Advisors, L.P. This agreement governs the establishment and management of various types of trusts in Fairfax, Virginia. One type of Fairfax Virginia Trust Agreement between the mentioned parties is the Revocable Living Trust. This trust allows individuals to maintain control over their assets during their lifetime, while designating beneficiaries who will inherit these assets upon their passing. It provides flexibility and allows for modifications or revocation as circumstances change. Another type of Fairfax Virginia Trust Agreement is an Irrevocable Trust. Unlike the Revocable Living Trust, this type of trust cannot be modified or terminated without the consent of all parties involved. It offers tax advantages and asset protection, making it suitable for estate planning purposes. Furthermore, the Fairfax Virginia Trust Agreement might include provisions for a Charitable Remainder Trust. This trust allows individuals to support charitable organizations while also receiving regular income payments during their lifetime. Upon their passing, the remaining assets are donated to the designated charity or charities. Additionally, the Fairfax Virginia Trust Agreement could outline a Special Needs Trust. This trust is specifically designed to protect the assets of individuals with special needs or disabilities while ensuring their eligibility for government benefits. It allows for the management of resources and the improvement of the beneficiary's quality of life. In summary, the Fairfax Virginia Trust Agreement between Nike Securities, L.P., The Chase Manhattan Bank, and First Trust Advisors, L.P. encompasses various types of trusts, including Revocable Living Trusts, Irrevocable Trusts, Charitable Remainder Trusts, and Special Needs Trusts.
Fairfax Virginia Trust Agreement between Nike Securities, L.P., The Chase Manhattan Bank and First Trust Advisors, L.P.
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