Blind Trust Lawyer

Thus the trustee is managing the assets for the benefit of the settlor.

Blind trust lawyer.

In a blind trust a settlor transfers assets to a third party who has complete discretion in how to use or invest the assets. Most people will never encounter a blind trust as they re primarily used by high profile corporate executives and elected officials with substantial financial assets. Depending on a person s situation a blind trust may be established in a number of ways. Because the trustee has complete authority over asset management it s a good idea to name an investment firm trust company or an attorney to act as trustee.

She flees after the trial in order to learn who framed her. In the typical blind trust the settlor is also the beneficiary. Blind trusts are generally used when a trust creator sometimes called a settlor trustor grantor or donor wishes for the beneficiary to be unaware of the specific assets in the trust such as to avoid conflict of interest between the beneficiary and the investments. There are state and federal laws regarding the creation of blind trusts so it s important to visit an attorney who has expertise in this area says richard gotterer cfp managing.

Contact a trusts attorney for more information about blind trusts. Regardless it s advised that you seek the counsel of a trusts attorney if you need to set up a blind trust. Directed by louis bolduc. A trust is a legal agreement where an individual known as the trustor or settlor transfers ownership of certain assets to an account managed by a trustee also known as a fiduciary the trustee then operates the trust on behalf of the designated beneficiaries.

Lottery winners typically hire a lawyer to serve as the trustee and they name themselves the trustor or grantor and beneficiary. Therefore you may want to consider hiring a local estate lawyer to either administer your blind trust or assist you in setting one up. With jessica capshaw chad willett art hindle robin wilcock. A woman is convicted of killing her friend and boyfriend in the heat of passion even though she is defended by a top lawyer.

Setting up a blind trust may be part of estate planning or a separate transaction to address a specific need. To create a blind trust start by drafting a trust instrument sometimes also called a trust deed according to your state s laws. Before delving into the specifics of a blind trust it helps to understand what a trust is and how they operate.