Blind Trust Document

In a blind trust a settlor transfers assets to a third party who has complete discretion in how to use or invest the assets.

Blind trust document.

In a blind trust the trustees fiduciaries or those who have been given power of attorney have full discretion over the assets. There are a myriad of state and federal regulations regarding blind trusts but generally speaking there are six steps to establish a blind trust. Link to pdf version u s. A qualified blind trust is defined as any trust in which a reporting individual his spouse or any minor or dependent child has a beneficial interest in the principal or income and meets these requirements.

Blind trusts are generally used when a trust creator sometimes called a settlor trustor grantor or donor wishes for the beneficiary to be unaware of the specific assets in the trust such as to avoid conflict of interest between the beneficiary and the investments. A typical living trust holds the trust creator s assets for their benefit during their lifetime to be managed by a designated trustee who can also be the trust s creator. A poa attached indicating blind trust or posted to the caf with a blind trust authorization indicator. Thus the trustee is managing the assets for the benefit of the settlor.

Suite 500 washington dc 20005. Office of government ethics 1201 new york avenue n w. A blind trust is a kind of irrevocable living trust. Consult with a qualified attorney to understand which state and federal laws your blind trust will be subject to for.

A qualified blind trust agreement contract form is created by a trustee or an individual who was chosen by the owner to hold a power of attorney. A trust agreement which specifies blind trust. This is the model agreement that an executive branch employee must use when establishing a qualified blind trust. All the beneficiaries of the trust will have limited power over the trust and will not be able to interfere with the trustee s decisions for the assets.

A letter requesting permission for the trustee to prepare and file the president s vice president s or political appointee s return. Gather the necessary documents. You may also see sample land agreement forms.