Fairfax Virginia Trust Agreement between Van Kampen Foods, Inc., American Portfolio Evaluation Services, Van Kampen Investment Advisory Corp., and The Bank of New York

• Category: Corporations - Public - Agreements - Trusts
• State: Multi-State
• County: Fairfax
• Control #: US-EG-9142
• Format: Word; Rich Text

Description

Series 204 Trust Agr. btwn Van Kampen Foods, Inc., American Portfolio Evaluation Serv., Van Kampen Investment Advisory Corp., and The Bank of New York dated Jan. 6, 2000. 5 pages Fairfax Virginia Trust Agreement is a legally binding contract that outlines the terms and conditions between Van Kampen Foods, Inc., American Portfolio Evaluation Services, Van Kampen Investment Advisory Corp., and The Bank of New York. This agreement establishes a fiduciary relationship whereby The Bank of New York acts as the trustee, while Van Kampen Foods, American Portfolio Evaluation Services, and Van Kampen Investment Advisory Corp. are the beneficiaries of the trust. The purpose of this agreement is to ensure the protection and management of assets and investments on behalf of Van Kampen Foods, American Portfolio Evaluation Services, and Van Kampen Investment Advisory Corp. The agreement will contain provisions governing the distribution, management, and administration of the assets within the trust, addressing areas such as investment strategies, reporting requirements, and beneficiary rights. The Fairfax Virginia Trust Agreement between Van Kampen Foods, Inc., American Portfolio Evaluation Services, Van Kampen Investment Advisory Corp., and The Bank of New York covers various types of trusts, including: 1. Revocable Trust: This type of trust can be amended, modified, or revoked by the granter (Van Kampen Foods, American Portfolio Evaluation Services, or Van Kampen Investment Advisory Corp.) during their lifetime. It offers flexibility and allows for changes in the beneficiaries or terms of the trust. 2. Irrevocable Trust: In contrast to a revocable trust, an irrevocable trust cannot be altered or terminated by the granter once it is established. The assets placed into the trust are permanently transferred and no longer owned by the granter. This type of trust provides long-term asset protection and may have tax advantages. 3. Testamentary Trust: This type of trust is established within a will and only comes into effect upon the granter's death. It allows the granter to designate how their assets should be distributed to the beneficiaries, providing control and protection even after their lifetime. 4. Charitable Trust: This type of trust is created to benefit specific charitable causes or organizations. It allows Van Kampen Foods, American Portfolio Evaluation Services, and Van Kampen Investment Advisory Corp. to support charities while potentially gaining tax benefits. The Fairfax Virginia Trust Agreement between Van Kampen Foods, Inc., American Portfolio Evaluation Services, Van Kampen Investment Advisory Corp., and The Bank of New York ensures that the trust is managed in accordance with legal and regulatory requirements. It outlines the roles and responsibilities of each party, including the trustee's duty to act in the best interests of the beneficiaries and administer the trust in a prudent and diligent manner. Key elements of the agreement include investment objectives, asset allocation, the trustee's compensation, reporting requirements, trustee succession, and the process for distributing assets to the beneficiaries. By entering into this trust agreement, Van Kampen Foods, American Portfolio Evaluation Services, and Van Kampen Investment Advisory Corp. can have confidence in the professional management and safeguarding of their assets while meeting their specific financial objectives.

Fairfax Virginia Trust Agreement is a legally binding contract that outlines the terms and conditions between Van Kampen Foods, Inc., American Portfolio Evaluation Services, Van Kampen Investment Advisory Corp., and The Bank of New York. This agreement establishes a fiduciary relationship whereby The Bank of New York acts as the trustee, while Van Kampen Foods, American Portfolio Evaluation Services, and Van Kampen Investment Advisory Corp. are the beneficiaries of the trust. The purpose of this agreement is to ensure the protection and management of assets and investments on behalf of Van Kampen Foods, American Portfolio Evaluation Services, and Van Kampen Investment Advisory Corp. The agreement will contain provisions governing the distribution, management, and administration of the assets within the trust, addressing areas such as investment strategies, reporting requirements, and beneficiary rights. The Fairfax Virginia Trust Agreement between Van Kampen Foods, Inc., American Portfolio Evaluation Services, Van Kampen Investment Advisory Corp., and The Bank of New York covers various types of trusts, including: 1. Revocable Trust: This type of trust can be amended, modified, or revoked by the granter (Van Kampen Foods, American Portfolio Evaluation Services, or Van Kampen Investment Advisory Corp.) during their lifetime. It offers flexibility and allows for changes in the beneficiaries or terms of the trust. 2. Irrevocable Trust: In contrast to a revocable trust, an irrevocable trust cannot be altered or terminated by the granter once it is established. The assets placed into the trust are permanently transferred and no longer owned by the granter. This type of trust provides long-term asset protection and may have tax advantages. 3. Testamentary Trust: This type of trust is established within a will and only comes into effect upon the granter's death. It allows the granter to designate how their assets should be distributed to the beneficiaries, providing control and protection even after their lifetime. 4. Charitable Trust: This type of trust is created to benefit specific charitable causes or organizations. It allows Van Kampen Foods, American Portfolio Evaluation Services, and Van Kampen Investment Advisory Corp. to support charities while potentially gaining tax benefits. The Fairfax Virginia Trust Agreement between Van Kampen Foods, Inc., American Portfolio Evaluation Services, Van Kampen Investment Advisory Corp., and The Bank of New York ensures that the trust is managed in accordance with legal and regulatory requirements. It outlines the roles and responsibilities of each party, including the trustee's duty to act in the best interests of the beneficiaries and administer the trust in a prudent and diligent manner. Key elements of the agreement include investment objectives, asset allocation, the trustee's compensation, reporting requirements, trustee succession, and the process for distributing assets to the beneficiaries. By entering into this trust agreement, Van Kampen Foods, American Portfolio Evaluation Services, and Van Kampen Investment Advisory Corp. can have confidence in the professional management and safeguarding of their assets while meeting their specific financial objectives.