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| A typical trust agreement contains provisions empowering the Trustee such as: | |
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1. |
To accept additional property by gift or by will. |
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2. |
To allow investments received as part of the Trust Property to remain in the status received. |
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3. |
To invest Trust Property in securities of any kind including but not limited to certificates of deposit, time deposits, bankers acceptances,notes, debentures, repurchase agreements or other obligations. |
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4. |
To vary and dispose of investments. |
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5. |
To borrow/lend monies. |
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6. |
To insure the life of the Settlor or any beneficiary. |
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7. |
To carry on businesses and form or dissolve companies. |
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8. |
To institute, prosecute and defend any suits. |
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9. |
To compromise and settle any and all claims or demands. |
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10. |
To employ agents, (including investment advisors) attorneys and managers, and to pay the fees of such agents. |
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11. |
To act as a banker to the Trust upon its usual customer terms without accounting for any resultant profits. |
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12. |
To administer the Trust in any jurisdiction in which the Trustee shall determine. |
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13. |
To relocate the Trust in the event of war, expropriation, etc., to another country. |
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14. |
To appoint successor Trustees. |