Can The Trustee Compensation Be Nothing
There must be trustee compenation, therefore one can make the compensation 1 gram of copper and the trustee(s) can be paid with a single U.S. penny (3g of copper).
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Is Trustee Compensation Reported To IRS
Trustee compensation is a separate contract whose obligation is protected under Article 1, Section 10 of the Constitution for the United States of America. All Federal excise tax and state organization and franchise taxes are legally avoided except ...
Can Someone Be Grantor/Creator + Trustee + Beneficiary
No. A contract between only (1) party is invalid, contracts require (2) or more parties to be considered valid. One can be Grantor and a/the Beneficiary. There is no conflict of interest being Grantor & Beneficiary because Beneficiary cannot ...
What Is A Successor Trustee
A Successor Trustee is the person responsible for administering the trust after its Grantor either passes away or becomes “Incapacitated” – that is, unable to administer the trust for themselves.
List of Trustee Responsibilities
The general duties of a trustee include, but are not limited to: Manage & grow assets Hold at least once yearly trust minutes meeting with the Board Assign 2 other trustees to the trust Open a bank account if necessary As one grows the trust there ...
Who Can Be A Trustee
Anyone (except a sole beneficiary) and any entity can be a trustee, but be aware of having only one living trustee and the remaining positions are filled by corporations, trusts or LLCs.