Prompt Title: Trust Organizational Structure.

Created 1 year ago
Votes 0
Views 209 times
0

Prompt Detail:

Trust Agreement for Holding Company LLCs: Simple Books and Tax, Tapson's Tree Service

This Trust Agreement ("Agreement") is entered into on [Date] by [Grantor] (the "Grantor") for the purpose of establishing a trust (the "Trust") to hold the assets of the holding company LLCs, Simple Books and Tax and Tapson's Tree Service.

WHEREAS, the Grantor is the sole owner of the holding company LLCs Simple Books and Tax and Tapson's Tree Service (the "LLCs");

WHEREAS, the Grantor desires to establish a Trust to hold and manage the assets of the LLCs for the benefit of the Grantor and the Grantor's designated beneficiaries;

WHEREAS, the Grantor has designated [Trustee] to act as trustee of the Trust; and

WHEREAS, the Trustee has agreed to accept the appointment as trustee and to perform its duties in accordance with the terms and conditions of this Agreement.

NOW, THEREFORE, in consideration of the mutual promises and covenants contained herein, the parties agree as follows:

Article I: Establishment of Trust

1.1 Establishment of Trust. The Grantor hereby establishes a Trust to be known as the Simple Books and Tax, Tapson's Tree Service Holding Company Trust ("Trust").

1.2 Funding of Trust. The Grantor hereby transfers all ownership and control of the LLCs, Simple Books and Tax, and Tapson's Tree Service to the Trustee. The Trustee shall hold and manage the assets of the LLCs in accordance with the terms and conditions of this Agreement.

Article II: Purpose of Trust

2.1 Purpose of Trust. The purpose of the Trust is to hold, manage and protect the assets of the LLCs for the benefit of the Grantor and the designated beneficiaries in accordance with the terms and conditions of this Agreement.

2.2 Beneficiaries. The beneficiaries of the Trust shall be the Grantor and such other persons or entities as the Grantor may designate from time to time in writing.

Article III: Duties and Powers of Trustee

3.1 Duties of Trustee. The Trustee shall have the following duties:

(a) To hold and manage the assets of the LLCs in accordance with the terms and conditions of this Agreement;

(b) To manage and invest the assets of the LLCs prudently and in a manner consistent with the Grantor's objectives;

(c) To distribute the income and principal of the Trust to the beneficiaries in accordance with the terms and conditions of this Agreement;

(d) To maintain complete and accurate records of the Trust and to provide reports to the Grantor and beneficiaries as required by law or as reasonably requested by the Grantor or beneficiaries;

(e) To exercise any other powers and perform any other duties as required by law or as necessary or desirable to carry out the purposes of the Trust.

3.2 Powers of Trustee. In addition to the powers granted to the Trustee by law, the Trustee shall have the following powers:

(a) To invest and reinvest the assets of the LLCs in any stocks, bonds, securities or other investments as the Trustee deems advisable, without regard to diversification requirements;

(b) To sell, exchange, or otherwise dispose of any assets of the LLCs, without regard to any limitations or restrictions imposed by law or otherwise, if the Trustee determines that such action is necessary or desirable to carry out the purposes of the Trust;

(c) To borrow money, pledge assets of the LLCs as security for loans, and otherwise use the assets of the Trust as collateral, subject to such limitations as the Trustee deems advisable;

(d) To employ and pay for the services of attorneys, accountants, investment advisors, and other professionals to

avatar
Ryker
Shared 1 prompt
Created 1 year ago

Leave a Comment

Related Tag Prompts

280
0
Annual vs. Monthly
1 year ago 2023-01-30 12:37:41 AIPRM
122
0
No refund policy
1 year ago 2023-01-31 13:48:35 AIPRM
117
0
243
0
Limited Trial explained
1 year ago 2023-02-05 14:07:11 AIPRM
266
0
Rental not Savings
1 year ago 2023-02-03 08:39:15 AIPRM
0
0
business training
1 year ago 2023-04-04 07:25:50 Alberto