A couple of questions regarding NFA Trusts
Posted: Tue Feb 19, 2019 4:53 pm
Scenario:
Trust owner is only trustee.
Trust maker adds a trustee (via properly signed/witnessed/notarized documents).
Q1. Can the new trustee add another trustee, or is the trust owner the only one who can do so?
Continuation of scenario:
Trust maker retires to a country where such toys are forbidden to residents. and doesn't expect to come back.
Q2. Can the trust maker 'abandon' the trust somehow (without dying)?
Q3. Would the 'new' trustee become the trust owner?
mbogo
Trust owner is only trustee.
Trust maker adds a trustee (via properly signed/witnessed/notarized documents).
Q1. Can the new trustee add another trustee, or is the trust owner the only one who can do so?
Continuation of scenario:
Trust maker retires to a country where such toys are forbidden to residents. and doesn't expect to come back.
Q2. Can the trust maker 'abandon' the trust somehow (without dying)?
Q3. Would the 'new' trustee become the trust owner?
mbogo