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What is Trust?
Trust may refer to: 1 Trust (social science), confidence in or dependence on a person or quality 2 Trust, North Carolina, a community in the United States More
What are the tax reporting obligations of a trust in Cyprus?
If the trust is an FI the trust or the trustee will have an obligation to report to its local tax authority in Cyprus in respects to the reportable accounts.
What is a discretionary trust?
Discretionary trust: In a discretionary trust, certainty of object is satisfied if it can be said that there is a criterion which a person must satisfy to be a beneficiary (i.e., whether there is a ’class’ of beneficiaries, which a person can be said to belong to).
How can an irrevocable trust be broken?
An irrevocable trust can be ”broken” (revoked) only by a judicial proceeding. The trustee is the legal owner of the property in trust, as fiduciary for the beneficiary or beneficiaries who is/are the equitable owner (s) of the trust property. Trustees thus have a fiduciary duty to manage the trust to the benefit of the equitable owners.
How to tackle a lack of trust in a relationship?
Frank honest talk is called for to tackle a lack of trust in a relationship. Both people must speak openly about what has happened to break the trust in the marriage. It simply does not work unless both are engaged in rectifying what has occurred.
What is your purpose in writing a trust by hand?
What is your purpose in writing a trust by hand? What are you trying to accomplish? The information that needs to be included in a trust depends, in part, on what you want to accomplish with it. As far as owning property jointly with someone else, if it’s joint tenancy property…
Is it difficult to write a valid trust?
A valid trust is not difficult to write. However, a trust rises and falls, not on the terms of the trust, but on what is left out by the writer of the trust. I have seen handwritten wills that are valid, but leave so much out, it is unusable in court.