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Trusts have certain requirements for creation. First, the grantor must show an intent to create a trust. [80] Concordantly, the grantor must have the mental capacity to form such an intent and to create the trust. [81] Also, if the grantor was "forced" to create the trust due to fraud, duress or undue influence, it is deemed void. [82]
A voluntary employees' beneficiary association (VEBA) is a form of trust fund permitted under United States federal tax law, whose sole purpose must be to provide employee benefits. [1]
A trust fund is a legal entity that holds and manages assets on behalf of another individual or organization. A will, on the other hand, is a legal document that directs the distribution of assets ...
In trust law, an express trust is a trust created "in express terms, and usually in writing, as distinguished from one inferred by the law from the conduct or dealings of the parties." [ 1 ] Property is transferred by a person (called a trustor, settlor , or grantor) to a transferee (called the trustee ), who holds the property for the benefit ...
In California, for example, it is a misdemeanor for the management of a business entity to willfully fail to remit trust-fund taxes such as any withholding from an employee's wages made pursuant to a state or local law, and if the amount of tax due exceeds $500 the class of crime becomes a felony (see California Labor Code Section 227).
The trust funds are still in trouble, but there's improvement One of Social Security's most pressing problems is the depletion of its trust funds: the Old-Age and Survivors Insurance (OASI) fund ...
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