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e. foreign address etc return form to either location above. 20885 1/10 Page 1 of 3 Please read this page and secure required signatures on page three. STATEMENT REGARDING TRUST AS POLICY BENEFICIARY and dated as shown on page one. NEW YORK LIFE INSURANCE COMPANY NYLIFE INSURANCE COMPANY OF ARIZONA Not licensed in every state STATEMENT OF TRUST - For Trusts other than Testamentary Trusts Instructions Use this form for Life and Annuity policies new business and inforce changes. This applies to re ...

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What is the purpose of a declaration of trust?

A Declaration of Trust records the terms on which a beneficial interest in a property is held. It also acts as evidence of the agreement. The document is used on a future sale or transfer of the property to confirm how the net sale proceeds are to be distributed or shares to be transferred.

What can a declaration of trust include?

What can a declaration of trust include? How much each person contributes to the deposit, and how much will be repaid to them. What percentage of the property each person will own, and how the money will be split if the property is sold.

Does a declaration of trust override a will?

Does a Declaration of Trust override a Will? A Declaration of Trust does not override a Will. The Declaration of Trust will set out your interest in the property but the Will will set out what will happen to your interest in the property after you have passed away.

What is a statement of trust?

Related Content. A document in which a person declares that he holds (or two or more persons declare that they hold) assets on trust for the benefit of one or more beneficiaries. A declaration of trust may create a new trust or may confirm the terms of an existing trust.