What Is A Trust?
Tax Professional Answers
• A declaration by the owner of property that the owner holds the property as trustee;
• A transfer of property by the owner during the owner's lifetime to another person as trustee;
• A transfer of property by the owner, by will or by other instrument taking effect upon the death of the owner, in trust, to another person as trustee or
• An exercise of a power of appointment to another person as trustee or an enforceable promise to create a trust.
If you would like more information on trusts or setting up one, please contact Keith Youngren at www.taxconnections.com/Keith-Youngren-CPA/12274983/United-States/Texas/Austin/profilepage
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