Complete this Questionnaire to hire Richard Keyt to form a custom drafted trust the sole purpose of which is to own interests in one or more Arizona LLCs or corporations.
Name of the Confidential Trust. It can be anything you want, but it must end with the word Trust. Trust names are not regulated by the government. If your trust were named the Laguana Beach Trust then the Arizona Corporation Commission's public records will show that the owner of the LLC is the Laguana Beach Trust.
Legal name of the person for whom the Confidential Trust will be prepared. This is the person who will be the ultimate owner of the LLC. Note: There can be two trust makers, but they must be married to each other.
If a married couple will both be creating the trust then enter their legal names. Example: Homer A. Simpson and Marge B. Simpson.
Trustmaker's phone number.
In this section you will name the person, married couple, trust or company that will be the current beneficiary of the Confidential Trust. The beneficiary is the ultimate owner of the LLC interest. The beneficiary should be the person, couple, company or trust that would own the LLC interest if the Confidential Trust were not being used. Warning: If there will be more than one beneficiary, the limit is two and they must be married to each other.
Is the trustmaker a current beneficiary or if there are two trustmakers are they both current beneficiaries?
Legal name of the current beneficiary.
What is the relationship of the current beneficiary to the trustmaker(s)?
Will the married trustmaker own the LLC interest held in trust as community property (each spouse owns 1/2) or separate property (trustmaker owns all of the LLC and the trustmaker's spouse owns none)?
When all current beneficiaries are deceased, who will become the beneficiary or beneficiaries of the trust? Click on the appropriate button to name the future beneficiary or beneficiaries.
Who will become the beneficiary or beneficiaries if all current beneficiaries die?
What is the name of the trustmaker's existing trust created for estate planning purposes?
Name(s) of the person or people who are trustees of your estate planning trust?
What is the date of your existing trust agreement you created for estate planning.
What is the name of the company that will be the beneficiary?
In what state was the entity formed?
Enter the name of the trustee(s) of the Confidential Trust.
Who will be the initial trustee(s) of the confidential Trust? The trustee is the legal owner of the LLC interest and must comply with the legal obligations in the trust agreement.
Who should become the trustee if the initial trustee or both initial trustees were to die or become incapacitated or refuse to serve as trustee?
Optional, but Recommended: Who should become the trustee if the initial trustee or both initial trustees were to die or become incapacitated and the first successor trustee were to die, become disabled or refuse to serve as trustee?
Do you have any other information you want Richard Keyt to know?
Enter any additional information you want Richard Keyt to know about you, the trustee, beneficiary or the trust.
The Confidential Trust that you are purchasing is not a trust created for estate planning. The sole purpose of the Confidential Trust is to hold title to one or more Arizona limited liability companies, limited partnerships or corporations so that the names of the person or the people who create the trust and who are its sole beneficiaries will not be disclosed on the public records of the Arizona Corporation Commission or the Arizona Secretary of State.
My Confidential Trust has the following characteristics:
1. It is revocable, which means it can be amended or terminated by a trustmaker at any time before the death or incapacity of the trustmaker.
2. The person or married couple named in this questionnaire as trustmakers are the creators (aka grantors) of the trust. If a trustmaker is married, that trustmaker may name his or her spouse as a co-trustmaker.
3. The beneficiary or beneficiaries are named in the field called "Current Beneficiary's Name." A beneficiary is the person, trust or entity for whom the trustee(s) hold title to trust assets and manage those assets for the "benefit" of the beneficiary. If two people are named as current beneficiaires they must be married to each other.
4. If one person is the beneficiary, that person will be the sole beneficiary while he or she is alive. If the current beneficiaires are a married couple, then they will be co-beneficiaries. If a co-beneficiary were to die, the other co-beneficiary would become the sole beneficiary.
5. The initial trustee or trustees are name in the field called "Trustmakers Names." The trustee or co-trustees have control over all assets owned by the trust.
6. You must name one or more successor trustees to take over as trustee after a single trustee or both co-trustees die or become incapacitated.
7. On the death of current beneficiary or both co-beneficiaries the successor trustee or co-trustees is/are directed to distribute all of the assets held in the trust at that time to the estate of the last beneficiary to die or to the future beneficiaries you have designated in the questionnaire.
8. You may add additional assets to the trust.
9. Because the trust is a revocable trust, the trust does not need a separate federal identification number (EIN) from the IRS. If you want to open a bank account in the name of the trust, give the bank a copy of your trust agreement and your SSAN. All income and expenses of the trust each year will be reported on your federal income tax return.
The Confidential Trust is not intended to do and does not do any of the following:
A. Provide asset protection for any beneficiary.
B. Allow for assets to be held in trust other than for a short period of time after the death of a sole intial beneficiary or the death of the surviving beneficiary if there are two initial beneficiaries.
C. Hold the assets in trust for future beneficiaries who are children of the trustmaker(s) until the children reach a specified age.
D. Contain standby provisions that would cause the trust to become a special needs trust is a beneficiary ever becomes a special need person.
E. Reduce or eliminate any federal or state estate or inheritance taxes on the death of a trustmaker.
If you want a trust that accomplishes any of the purposes listed in A - E, do not use my Confidential Trust, but use a comprehensive estate planning trust instead. I can prepare such a trust, but it costs more and would require you to sign an engagement letter.
You must log in to post a comment.