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MANAGING YOUR TRUST ACCOUNT BY DAVID M. SORRY, ESQ. On June 28, 1997, Evader Holy field and Mike Tyson fought a heavyweight championship fight at MGM Grand Arena. Before the fight started, Referee

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How to fill out your trust

01

Gather all the necessary documents such as identification, bank statements, and other financial records.

02

Choose an appropriate trustee who will manage and administer the trust according to your wishes.

03

Define the beneficiaries and specify how you want your assets to be distributed among them.

04

Create a trust document or hire an attorney to draft one for you.

05

Include details about the assets you want to transfer into the trust.

06

Specify any specific instructions or conditions for the distribution of assets.

07

Sign the trust document in the presence of witnesses or a notary public to make it legally binding.

08

Transfer the ownership of assets into the trust by updating titles, deeds, or beneficiary designations.

09

Regularly review and update your trust to ensure it reflects any changes in your personal or financial circumstances.

Who needs your trust?

01

Individuals who want to control how their assets are managed and distributed after their death.

02

Parents who wish to provide for their minor children or disabled dependents.

03

Estate owners who want to minimize estate taxes and avoid probate.

04

Business owners who want to ensure a smooth transition of their business upon their incapacitation or death.

05

Anyone who wants to maintain privacy and keep their estate matters out of public record.

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What is your trust?

My trust is a legal arrangement in which a trustee holds and manages assets for the benefit of a beneficiary.

Who is required to file your trust?

The trustee is required to file the trust.

How to fill out your trust?

To fill out a trust, you need to gather all necessary information about the assets, beneficiaries, and instructions for management of the trust.

What is the purpose of your trust?

The purpose of a trust is to ensure that assets are managed and distributed according to the wishes of the grantor.

What information must be reported on your trust?

Information such as assets, beneficiaries, and instructions for the distribution of assets must be reported on the trust.

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