What is a trust deed?

A trust deed is an instrument used in North Carolina to create a trust relationship between a trustor (the person creating the trust) and a trustee (the person who is responsible for managing and carrying out the terms of the trust). A trust deed outlines the details of the trust including the trustor’s desires for how the trust assets will be used, managed, and distributed. The trust deed also specifies how the trustor wants the trust assets to be managed, and it outlines who will benefit from the trust assets. The trust deed describes the rights and duties of the trustor, trustee, and beneficiaries, and it typically includes information about how the trust will be funded, how it will be managed, who will benefit from the trust, and how the trust assets will be distributed upon the death or incapacity of the trustor. Trust deeds also outline how the trustor wants the trust assets to be invested and how the trust documents will be amended or terminated. Trust deeds are designed to ensure that the trustor’s wishes regarding the trust assets are carried out according to the trustor’s wishes. In North Carolina, trust deeds must be signed by both the trustor and the trustee, and they must be notarized. Once a trust deed is created, it should be reviewed by an attorney who is knowledgeable about trusts and estates law in North Carolina to ensure that it meets all legal requirements.

Related FAQs

What is a spendthrift trust?
What is a living trust?
What is a trust fund agreement?
What is a special needs trust?
What is a charitable lead trust?
How do I transfer assets into a trust?
What is the Uniform Trust Code?
How can I create a trust?
What is an inter vivos trust?
What is a discretionary trust?

What is a trust deed?

Related FAQs

Related Blog Posts