What is a trust indenture?

A trust indenture is a contract between a settlor, a trustee, and a beneficiary that outlines the terms of a trust. It is the legal agreement that establishes the trust and sets forth the rights and obligations of each party involved. The trust indenture serves as a document that will ensure the trust is administered according to the wishes of the settlor. In Virginia, a trust indenture must meet certain criteria to be legally binding. It must include the name of the settlor, the appointed trustee, and the beneficiary, as well as the purpose of the trust. The trust indenture also must describe the assets to be held in trust and the duties of the trustee. Additionally, it must address how the trust assets will be managed and how the beneficiaries will receive their benefits. Finally, when creating a trust indenture in Virginia, the settlor must sign the document in the presence of two witnesses, or in the presence of a notary, who will then sign and certify the document. The trust indenture is an important document for ensuring that the trust is properly established and administered. It sets forth the legal parameters of the trust and helps protect the interests of all involved parties.

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What is a trust indenture?

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