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What is a unincorporated business organization trust?

An unincorporated business organization (UBO) is a business arrangement used in lieu of a company or partnership. The investor acts as the settlor of the trust and gives the management rights to the trustee, who holds title to the property for the benefit of the beneficiaries for investment purposes.

What are the benefits of a declaration of trust?

The declaration provides an overview of the trusts purpose or objectives and how the trustee may invest and manage assets to support the beneficiaries. It also may explain who will replace the trustee in the event of illness, incapacitation, death, or any other reason.

What is a declaration of intent in a trust?

Some individuals create a document called a Declaration of Intent to indicate that they wish to transfer property to a Trust. This Declaration may take the form of a signed document or even a Pour-Over Will, by which a Trust could be funded at the death of the Grantor.

What is the difference between a trust and a declaration of trust?

Declaration of trust is the document used to establish the primary details of a trust. While some states allow oral declarations, many states require a written declaration of trust outlining the essential pieces of the trust in order for it to be legally recognized.