Get the free Statement of Trust - dnr illinois

FORM State of Illinois Department of Natural Resources TR39 Statement of Trust 1. The following Trust is the subject of this statement: TRUST NAME TRUST DATE FEDERAL TRUST I.D. NUMBER GRANTERS NAME

How to fill out statement of trust

How to fill out a statement of trust:

1. Gather necessary information: Before starting to fill out a statement of trust, make sure you have all the necessary information. This may include details about the trust creator, trustees, beneficiaries, and assets held in the trust.
2. Start with the introductory section: Begin by providing the full legal name of the trust, along with the date it was created. Include any identifying information such as the trust's tax identification number.
3. State the purpose of the trust: Clearly articulate the purpose of the trust, specifying the intentions and goals behind its creation. This could be to provide for specific family members, protect assets, or support charitable causes, for example.
4. Identify the trust creator and trustees: Provide the full legal name, contact information, and any professional affiliations for the person who created the trust (also known as the grantor or settlor). Similarly, list the name and contact details of the chosen trustees who will manage and administer the trust.
5. Specify rules and provisions: Outline the rules and provisions that govern the trust, such as how and when distributions will be made to beneficiaries, whether there are any restrictions on the use of trust assets, and any conditions that must be met for beneficiaries to receive distributions.
6. Name beneficiaries: Clearly state the full legal names and relationships of all beneficiaries who are intended to benefit from the trust. It is important to be accurate and provide sufficient details to avoid any ambiguity or confusion.
7. Describe trust assets: List and describe all assets held within the trust, which may include cash, real estate, investments, or other valuable property. Be as specific as possible to ensure a clear understanding of the trust's holdings.
8. Sign and notarize: Once you have completed filling out the statement of trust, it is essential to have all parties involved sign the document. Additionally, it may be necessary to have the document notarized to validate its authenticity.

Who needs a statement of trust:

1. Individuals creating a trust: A statement of trust is required by individuals who are creating a trust to provide clear instructions and guidelines for its administration and distribution of assets.
2. Trustees: Trustees, who are responsible for managing and administering the trust, need a statement of trust to understand their duties, obligations, and the intentions of the trust creator.
3. Beneficiaries: Beneficiaries of a trust should have access to the statement of trust to understand their rights, entitlements, and the conditions they need to meet to receive distributions from the trust.
4. Estate planning professionals: Attorneys, accountants, or financial advisors involved in estate planning often require a statement of trust to accurately represent and administer a client's trust in accordance with their wishes.

In conclusion, anyone involved in the establishment, administration, or beneficiary status of a trust should be familiar with and have access to a properly filled out statement of trust. It serves as a comprehensive document outlining the purpose, rules, and intentions of the trust, ensuring transparency and facilitating efficient trust management.

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What is statement of trust?

The statement of trust is a legal document that outlines the terms and conditions of a trust.

Who is required to file statement of trust?

Any individual or entity that acts as a trustee and oversees the assets within a trust is required to file a statement of trust.

How to fill out statement of trust?

To fill out a statement of trust, you must provide detailed information about the trust, the beneficiaries, the assets held within the trust, and any other relevant details.

What is the purpose of statement of trust?

The purpose of a statement of trust is to ensure transparency and accountability in the management of trust assets.

What information must be reported on statement of trust?

Information that must be reported on a statement of trust includes details about the trustor, the trustee, the beneficiaries, the assets held within the trust, and the terms and conditions of the trust.