How Should An Officer or Trustee's Name Be Written
Typically it is suggested that a trustee have their name written (First Middle Last), but for an officer of a corporation that is not required as the position, company and statutory privileges are all public.
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Does One Need to Name a Beneficiary
Every trust MUST name a beneficiary, but it does not need to be named in the Trust Corpus documents. In fact, it is explicitly stated that for privacy concerns, the beneficiary will be named in the Trust Minutes of the very first Trust Meeting. The ...
Does One Need to Name a Successor Trustee
This depends on the individual bank one is opening an account with. For example Chase requires a Successor Trustee, but TD Ameritrade requires a Co-Trustee, and other banks only require one Trustee to sign. Call the bank before the appointment to ...
Can a Trust Start a C-Corporation or S-Corporation
Yes, a trust (with an EIN) can start a C-Corporation, but not an S-Corporation. S-Corporations do not allow trusts these same rights. The trust cannot serve because only a natural [living] person can serve as a corporate officer. Although a private ...
Can A Trust Be A Corporate Officer
In the United States, state corporation law uniformly provides that only natural [living] persons may serve as directors of corporations, therefore a trust cannot be a corporate officer. Further, a trust can hold stock for a C-Corporation, but there ...
Trustee Powers Independent of Majority Vote of the Board
A Trustee may independently, without the majority vote of the Board of Trustees do the following: 1. Receive property into the trust; 2. Initiate a contract for services (provided notice is given to the Board of Trustees within 3 days); and 3. ...