What is a trust fund agreement?

A trust fund agreement is a legal document used to create a trust fund, which is a type of account that holds money or other assets. A trust fund agreement is used to set up the terms under which a trust fund will be managed and the rights of the beneficiaries who will receive the trust fund money when the trust is dissolved. In California, trust fund agreements are regulated by the California Probate Code and must include specific provisions in order to be valid. The Trust Fund Agreement should be signed by the settlor (the person who establishes the trust) and the Trustee (the person responsible for managing the trust fund). The document should also contain the details of who will receive the trust fund upon its dissolution. The trust fund agreement should also identify the beneficiaries and include their rights, such as the right to receive reports from the Trustee, the right to receive distributions from the trust and the right to demand an accounting for the trust fund. It should also specify how the trust fund will be managed, including provisions for investment of the trust fund money and how profits from the investments will be distributed. In addition, the trust fund agreement should include any regulations regarding the trust fund and any tax regulations, especially those related to estate taxes. It should also contain provisions for how the trust fund will be dissolved, including what will happen to the remaining trust fund money after the beneficiaries have been paid.

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What is a trust fund agreement?

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