Can The Trustee Be A Beneficiary or Hold Beneficial Interest Certificates (BIC)

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• What's The Difference Between Capital Interest Certificates & Beneficial Interest Certificates

  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 ...

• Can Beneficiaries & Trustees Hold Capital Interest Certificates (CIC)

  Yes, beneficiaries may exchange property into the trust like an investment; however, it is not suggested that a Trustee hold Beneficial Interest Certificates as this prevents the Trustee from holding Capital Interest Certificates without a fraudulent ...

• How Are Capital Interest Certificates & Beneficial Interest Certificates Paid Out When Trust Ends / Vests

  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 ...

• What Happens to Capital & Beneficiary Interest Certificates When A Spouse Dies

  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 ...

• Beneficiary Changes for Trusts

  The beneficiaries are not named in the trust indentures themselves to keep this information private. This allows for a beneficiary change AFTER the trust indenture has been signed, changed at any trustee meeting in the Trust Minutes for the issuance ...