Capital Interest Certificates (CIC) are issued based on an exchange (outside funding) going into the trust res - think of it like a stock. Beneficial Interest Certificates (BIC) are issued based on the Board of Trustees decisions and the trust ...
Capital Interest Certificates (CIC) are paid to owners when trust vests BEFORE Beneficial Interest Certificates (BIC) are exchanged. An account will probably be required to determine amount of assets, divided between CIC and BIC holders. CIC holders ...
Yes, with approval by the Board of Trustees the trust may sell any amount of Capital Interest Certificates to any number of persons or entities. Further, the certificates themselves may be restricted from further sale without approval by the Board of ...
Capital Interest Certificates: The certificates are passed on according to the deceased's Will, Trust or written wishes. If married (common law or statutory), the assets will naturally pass onto the surviving spouse. Beneficiary Interest ...