How many parties are required to enter into a Trust?
• A. Three is the minimum number required. To create a valid Trust, you must name the Trustor (the creator of the Trust), the Trustee (the manager of the Trust), and the Beneficiary (the person that will receive the income or principal from the Trust). Generally, you will also name the Successor Trustee and a Contingent or Secondary Beneficiary.
Related Questions
- Will I be required to maintain a trust account to process funds through to pay third parties (referrers) and credit representatives or receive commissions from lenders on my aggregators Lending Panel?
- Why have the parties lost trust in each other in the Northern Ireland peace process?
- Who are the parties in a Trust?
