What is a trust indenture?

A trust indenture is a written document that is used in trusts and estates law in South Carolina to create a trust. This document defines the rules and regulations that govern the trust, including the rights and responsibilities of the people involved, such as the grantor (the person who is creating the trust), the trustees (the people responsible for managing the trust funds), and the beneficiaries (the people who will receive the benefits of the trust). The trust indenture will also specify the purpose of the trust, how trust funds will be managed, and any other necessary guidelines or regulations that must be followed. It may also involve a bond, which is a type of security that provides a guarantee that the trust funds will be used for the specified purpose. The trust indenture is a legally binding agreement and is usually signed by the grantor, trustees, and beneficiaries. It is typically drafted by a lawyer or other estate planning professional, and must be reviewed by a judge in order to be formally accepted. Once the document has been accepted, it is legally enforceable and guarantees that the trust funds will be used according to the terms of the trust indenture.

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What is a trust indenture?

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