The Montgomery County, Maryland, Second Amendment to Trust Agreement between Polaris Industries, Inc. and Fidelity Management Trust Company is a legal document that outlines the terms and conditions regarding the trust arrangement between these two entities. A trust agreement is a legal contract where one party (the trust or) transfers assets to another party (the trustee) to hold, manage, and distribute those assets for the benefit of a third party (the beneficiary). Keywords: Montgomery County, Maryland, Second Amendment, Trust Agreement, Polaris Industries, Inc., Fidelity Management Trust Company. This particular Second Amendment to Trust Agreement may pertain to different types or variations of trust arrangements between Polaris Industries, Inc. and Fidelity Management Trust Company. These variations can include: 1. Revocable trust agreement: This type of trust allows the trust or (Polaris Industries, Inc.) to modify, terminate, or amend the trust during their lifetime. The assets transferred to the trust may be retrieved by the trust or if desired. 2. Irrevocable trust agreement: In this type of trust, the trust or relinquishes control over the assets transferred to the trust. The trust or cannot modify, terminate, or amend the trust without the consent of the trustee (Fidelity Management Trust Company). This ensures a high level of asset protection and may have tax benefits. 3. Living trust agreement: Also known as an inter vivos trust, this agreement allows the trust or to create the trust during their lifetime, enabling assets to transfer seamlessly to the trust upon the trust or's death. This type of trust can help avoid probate, maintain privacy, and provide for the beneficiaries without court intervention. 4. Special needs trust agreement: If this Second Amendment to Trust Agreement is specifically created to benefit individuals with special needs, it might qualify as a special needs trust. Such a trust is designed to preserve eligibility for government benefits while providing supplemental resources for the beneficiary's care, support, and quality of life. 5. Charitable trust agreement: If the trust established between Polaris Industries, Inc. and Fidelity Management Trust Company is set up exclusively for charitable purposes, it may be categorized as a charitable trust. This type of trust typically names a charitable organization as the beneficiary and provides ongoing support for their programs and initiatives. In summary, the Montgomery County, Maryland, Second Amendment to Trust Agreement between Polaris Industries, Inc. and Fidelity Management Trust Company is a legal document that governs a trust arrangement. Different variations of this agreement may exist, such as revocable trusts, irrevocable trusts, living trusts, special needs trusts, and charitable trusts, based on the specific purpose and nature of the trust.
Montgomery Maryland Second Amendment to Trust Agreement between Polaris Industries, Inc. and Fidelity Management Trust Company
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